ReTech Corporation (OTCMKTS:RETC) Stock More Than Doubled: Here is Why
The stock market can be a bit of a mystery sometimes since stocks can go up or down by considerable degrees without any specific news and something of a similar nature happened with the 12 ReTech Corporation (OTCMKTS:RETC) on Tuesday.
There was no news about the company yesterday but investors piled on to it in a big way and the 12 ReTech Corporation stock soared by as much as 125% on the back of such heavy activity. While it seems that the rally might have been completely speculative, it is also true that it is difficult for investors to ignore such enormous gains.
In such a situation, it might be a good idea for investors to take a look at a key development with regards to 12 ReTech Corporation from last year. Back on June 22 last year, the company submitted its yearly Form 10-K to the United States Securities and Exchange Commission for the fiscal year that ended on December 31, 2019.
The financial result from the company was a snapshot of the combined business activities of four companies. The three companies in question are Emotion Fashion Group, 12 Hong Kong, 12 Europe AG and 12 Japan Ltd.
Market Reaction:
On Tuesday, RETC stock soared 125% at $0.0009 with more than 2.97 billion shares, compared to its average volume of 456.83 million shares. The stock has moved within a range of $0.0003 – 0.0010 after opening the trade at $0.0004. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0160.
