The remarkable rally in the Applied Energetics Inc (OTCMKTS:AERG) stock over the course of the past week must have been noticed by most investors and hence, it might be the right time to take a closer look into the company.
The rally in the stock continued on Wednesday as investors continued to flock to it and sent it soaring by as much as 20%. That took the gains clocked by the Applied Energetics stock to as much as 95% for the past week. Although the rally in the stock has been eye catching, it is also necessary to keep in mind that there has been no news about the company in recent days and the rally may well be speculative in nature.
The last piece of news to have emerged about the company was back in March this year when the company announced that it was relocating to a new corporate headquarter. Applied Energetics announced at the time that the new headquarters are going to be at the UA Tech Park, which is a research and technology park owned by the University of Arizona. It was noted that the move was made in anticipation of future growth for the company.