Over the course of the past week the Western Magnesium Corp (OTCMKTS:MLYF) stock has emerged as one of the biggest gainers from among micro cap stocks and it is perhaps time for investors to take a closer look into the rally.
Yesterday, the stock attracted a fair degree of interest and ended the day with gains of 10%. That took its gains for the past week to as much as 110%. The Western Magnesium stock has made a massive move in recent days and more importantly, it has gone from micro cap status to almost $1 a share.
In addition to that, the stock has also become on the leaders from among small cap stocks with regards to trading volume and that has also been cited as one of the factors behind the rise. The Western Magnesium stock has attracted a large number of investors in recent days and in addition to that, some of the biggest players in the penny stock space have also got involved.
The involvement of major players is almost always an indication of the popularity of a stock at any point in time. It now remains to be seen if the Western Magnesium stock can add to its gains today.
