CMC Holding Group Inc. (OTCMKTS:CMGO) Stock Gains Momentum As CEO Stock Buys

CMC Holding Group Inc. (OTCMKTS:CMGO) up 7% after CEO Glenn B. Laken filed a Form 4 with the US SEC to announce the purchase of 1.423 million common shares of the company on the open market. Currently, Laken owns 14.185 million CMGO common shares.

Market Stats

On Monday, CMGO stock jumped 7.14% to $0.0090 with more than 775k shares, compared to its average volume of 1.63 million shares. The stock has moved within a range of $0.0084 – 0.0102 after opening trading at $0.0084.

CMG Holding Group CEO Buys Company Stock on the Open Market

Laken stated that he made a purchase because he believes in the firm, its accomplishments, and its future. He added that he expects investors to note how the management believes in the potential of CMG Holding Group.

The company has retained E&E communications to support the investor relations program, including finding new investors. Laken said that E&E had helped several public firms across the globe, and they look forward to their ability to share the company’s story with prospective shareholders.

E&E Communications’ Paul Knopick said they are delighted to help the company. He pointed that the company conducted a stock repurchase last year, and it is a company that cares about shareholders. So, investors should watch CMGO.

Key Quote

“I made the purchase because I believe in the Company, its achievements and its future. I hope that investors will take note on how much management believes in CMG Holding Group’s potential,” Mr. Laken said.

Traders Corner

CMGO stock is below the 20-Day and 50-Day Moving averages of $0.0093 and $0.0098 respectively. The stock is trading in the neutral zone with the RSI at 46.