Stargaze Entertainment Group Inc (OTCMKTS:STGZ) Stock Soars 505: What’s Going On?

The entertainment production and distribution firm Stargaze Entertainment Group Inc (OTCMKTS:STGZ) saw its stock soar by as much as 50% this past Friday. While the gains made by the stock were considerable it is perhaps also important to keep in mind that there was no news about the company that might have led to such enormous gains.

In this situation, it might be a good move for investors to take a closer look at Stargaze Entertainment’s business. The company’s operations are spread across the world. It involved in the distribution as well as creation of films, television shows and music.

In this context, it should also be pointed out that in the past it was known as Umining Resources Inc but later on its changed its name to Stargaze Entertainment Group in 2015 in order convey the change in its line of business.

Last month the company announced that it picked up the global rights to a new television show titled ‘The Psychic’. The announcement was made by Stargaze Entertainment Group on July 15 and it marked a major milestone for the company. In light of the gains made by the stock, it could be a good idea to keep the stock in the watch lists at this point.