Caduceus Software Systems (OTCMKTS:CSOC) Stock Jumps 32%: Here is Why
The Caduceus Software Systems Corp (OTCMKTS:CSOC) stock was one of the major gainers on Tuesday and managed to clock gains of as much as 32%. Although the gains generated by the Caduceus Software stock might be attractive, it is also necessary for investors to keep in mind that there was no news yesterday about the company.
The last major development regarding Caduceus Software was back on June 9 when the company announced that it had agreed on settling the debts owed to its earlier management and related entities.
It was a major development for the company considering the fact that according to the terms of the settlement agreement the principal of $2.47 million in unsecured and outstanding debts is going to be written off.
At the time, the company stated that this move from Caduceus Software is going to unlock more value for shareholders and also strengthen the stock since the company would not have to dilute the stock in the future in order to pay off its debts. While the development could have long term positive effects, it is hard to tell if the rally in the stock yesterday was actually triggered by this announcement or not. It remains to be seen if the stock can maintain its momentum today.
Market Reaction:
On Tuesday, CSOC stock jumped 32.33% to $0.0768 with more than 7.07 million shares, compared to its average volume of 1.40 million shares. The stock has moved within a range of $0.0590 – 0.0940 after opening the trade at $0.0606. Over the past 52-week, the stock has been trading within a range of $0.0010 – 0.0940.
