SPO Global Inc. (OTCMKTS:SPOM) Stock Slumps 17% in a Week: Here is Why
SPO Global Inc. (OTCMKTS:SPOM) is down 17% in a week. The company gave a shareholder update indicating that as of October 2021, Gerpang Healthcare Group and Shandong Sperson Medical Group Co. Ltd recently merged into SPOM.
Market Stats
On Monday, SPOM stock lost 1.80% at $0.0218 with more than 477.72K shares, compared to its average volume of 661.29K shares. The stock has moved within a range of $0.0212 – 0.0248 after opening the trade at $0.0212.
Shareholder Update
SPO Global’s cooperating entities include China Science and Technology Financial Holding Fund Co., Jigang Cultural Tourism Group Co., and Shandong Gerpang Biotech Co. Ltd.
The company indicated that it recently finalized an agreement with the US-based Institutional Finance Group for necessary capital. The capital in question will be utilized for long-term and short-term goals. The company offered details regarding its plans through the previous shareholder’s update, and it is currently focusing on those plans.
The company’s management will continue working with cooperating entities to advance its objective of opening SPO Brain Hospital by October next year in Jinan Hot Spring Resort. The proposed hospital has around 81 acres of property and will have 300 rehabilitation and treatment beds. So, SPOM is worth watching in the coming months.
Key Quote
CEO, Fengyou Lu, stated, “I believe the Company and its Management Team has recently positioned itself to continue in the right direction in order to be successful. With the funding now in place, we as a Company, will be able to be more aggressive with the Company’s Operations moving towards our intended goals, and also do a better job in updating the Company’s Shareholders going forward. I plan to provide a step-by-step update to our people, both by updating the OTC Markets, and by sharing the Company’s progress to our Shareholders.”
Traders Corner
SPOM stock is trading below the 20-Day and 50-Day Moving averages of $0.0251 and $0.0261 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0467. The stock is down 13% in the past month.
