The rally in the CloudCommerce Inc (OTCMKTS:CLWD) stock earlier on this week was a remarkable one, especially considering the fact that there was no news about the company at all. However, the story changed yesterday as the CloudCommerce stock slumped by as much as 16% on the back of a fair degree of profit booking from investors.
The day before yesterday, there was considerably frenetic action in the CloudCommerce stock and it ended up clocking gains of a staggering 114%. In this regard, it could be said that the rally may have been entirely speculative in nature considering the fact that there was no news about the company on the day.
That being said, it could be a good move for investors to keep in mind that back on July 27 the company had announced that it appointed Jonathan Romano as its new Executive Vice President of Global Sales.
CloudCommerce is engaged in delivering technology powered digital advertising solutions to its clients and the appointment of Romano could eventually prove to be an important one in the context of the company’s overall growth. At this point, it could be a good idea for investors to keep an eye on any fresh news about CloudCommerce.
