This past Friday, the Atlas Technology Group Inc (OTCMKTS:ATYG) stock emerged as one of the prime movers in the market as investors piled on to it in a big way. The stock ended the day with gains of as much as 80%.
Despite the enormous gains made by the stock most investors will probably feel that the rally was largely speculative in nature since there was no news about the company. In this situation, investors perhaps need to learn a bit about the company’s business. Atlas is a holding company and is involved in acquiring businesses in order to create value.
Back in 2014, the company decided to remove Racing Limos America Inc from its portfolio. However, in this regard, it should also be noted that in January of the same year, Atlas completed the acquisition of Green LED Technology Inc. Green LED Technology is involved in distributing lighting but with energy efficiency and could well be one of the more important companies in Atlas’s portfolio at this point. Despite that, it is unlikely that these transaction, accomplished in 2014, had much of a bearing on the rally that was seen in the Atlas stock on Friday.