Indo Global Exchange (IGEX) Stock Continues to Gain Momentum: Now What?
Yesterday, there was nothing on the news wires with regards to Indo Global Exchange (OTCMKTS:IGEX), but that did not stop investors from piling on to the stock in a big way.
The stock soared by as much as 25% yesterday and at the same time it should be noted that the Indo Global Exchange stock is expected to be in focus among investors today owing to such gains. As a matter of fact, there has been no news about the stock for a long time and one would need to go as far back as January of last year to get hold of an important development.
At the time, it was announced by the company that it closed the acquisition of MyoCare Sports, a company involved in the performance related nutrition space. MyoCare already had a wide foot print in the United States at the time. In addition to that, the company also had presence in international market in Australia and Canada.
Hence, it goes without saying that it was a significant acquisition for Indo Global Exchange. While it is unlikely that the latest rally in the stock was triggered by the MyoCare acquisition, it is something that investors ought to know about.
Market Reaction:
On Tuesday, IGEX stock jumped 24.55% at $0.0069 with more than 127.61 million shares, compared to its average volume of 107.62 million shares. The stock has moved within a range of $0.0056 – 0.0069 after opening the trade at $0.0058. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0069.
