Alternet Systems Inc (OTCMKTS:ALYI) Stock Soars 85% in a Month: But Why?
Yesterday Alternet Systems Inc (OTCMKTS:ALYI) was in the news once again after the company announced that its Chief Executive Officer Randell Torno was in Nairobi, Kenya for the purpose of speeding the first of the two acquisitions that the company is working on.
Market Stats
On Monday, ALYI stock soared 0.16% at $0.0186 with more than 25.45 million shares, compared to its average volume of 31.53 million shares. The stock has moved within a range of $0.0180 – 0.0194 after opening the trade at $0.0182.
Major News
The company expects the two acquisitions to help in generating considerable electric vehicle revenues. It was a major announcement from the company and it must have come as a significant boost to many of its shareholders. In this context, it is perhaps also important to point out that the Alternet Systems stock has seen considerable action over the course of the past month.
During the period, the stock has managed to move strongly and delivered gains of as much as 85%. In this situation, it may be a good idea for investors to keep in mind that Alternet is an electric vehicle company with a difference since it is looking to create an electric vehicle ecosystem that is going to be based out of the fast growing East African market. Considering the moves that are being made by Alternet Systems at this point in time, it may be a good time to add the stock to your watch lists.
Traders Corner
ALYI stock is trading below the 20-Day and 200-Day Moving averages of $0.0188 and $0.0178 respectively. However, the stock is trading above 200-Day moving average of $0.0178. The stock is up 29% in the past month.
