PHI Group Inc. (OTCMKTS:PHIL) dropped 22% and down 50% in the past week. The company is making massive movements following a dip in recent weeks. PHIL is under heavy accumulation as investors crowd the stock making it is among the most sought-after small-cap stocks.
Several penny stock traders are trading the stocks which have been trading between $5 million and $25 million. In December, PHIL took off last year as a new age of penny stock traders fuelled by Robinhood took on bulletin boards.
The company has a solid executive team led by Henry Fahman, who has been working to ensure PHIL is “pinkcurrent.” Recently the company engaged various private equity firms to boost organic growth by acquiring positive cash-flow firms that can boost bottom lines and revenues. The company stated that it would qualify for uplisting to senior exchange such as NYSE or Nasdaq following the closing of one such acquisition. So in the months to come, PHIL is a stock to be on the radar. On Monday, PHIL stock slumped 22% at $0.0070 with more than 1.02 billion shares, compared to its average volume of 384.66 million shares. The stock had moved within a range of $0.0068 – 0.0088 after opening the trade at $0.0087.