A stock rallying strongly despite there being no news is not a particularly uncommon phenomenon and such a thing happened with the Strategic Asset Leasing Inc (OTCMKTS:LEAS) stock on Friday.
Last Friday, there was heavy action in the Strategic Asset Leasing stock as it ended the day with gains of much as 57%. In light of such gains, the Strategic Asset Leasing stock is likely to come into focus today as well. In this regard, it is also important to remember that the last time any news emerged about the company was back in September of last year.
At the time the company announced that it signed a letter of intent with regards to the acquisition of a banking platform meant for the cannabis industry. It was a major development for Strategic Asset Leasing considering the demand for efficient banking options among many cannabis companies.
Companies which are compliant with all regulations will be able to apply for regular banking loans through the platform. In addition to that, merchant services are also going to be provided. However, it is unlikely that this development was the reason behind the rally in the stock on Friday. Investors could do well to keep an eye on the Strategic Asset Leasing stock this week.
