World Series of Golf Inc (OTCMKTS:WSGF) Stock rockets 36% On Unusual Volume

Companies are often known to pivot to new lines of businesses altogether and when that happens, it is quite common for those companies to change names.

Market Stats

On Tuesday, WSGF stock soared 36% at $0.0161 with more than 89.16 million shares, compared to its average volume of 8.27 million shares. The stock has moved within a range of $0.0109 – 0.0180 after opening the trade at $0.0118.

Announces Name Change To Vaycaychella And Issues Management Update

The company World Series of Golf Inc (OTCMKTS:WSGF) made such an announcement yesterday. The company provided a management update on Tuesday in which it revealed a series of new measure, one of which was the change of the corporate name to Vaycaychella. The company noted that it decided to go for the name change in order to convey its transition into a technology company involved in the short term vacation property space.

The announcement from the company came as a major boost for its stock and the World Series of Golf stock soared by as much as 37% on Tuesday as a consequence.

While the gains made by the stock were considerable, it is also necessary to see if the stock can manage to hold on to the momentum over the course of the coming days. Last year the company had moved into this space after it acquired a rental property named Vaycaychella. At this point in time, it might be a good idea to add the stock to your watch lists and keep an eye on further developments.

Traders Corner

WSGF stock is trading above the 20-Day and 50-Day Moving averages of $0.0127 and $0.0137 respectively. However, the stock is trading below the 200-Day moving average of $0.0211. The stock is up 31% in the past 3-month.