Rallies in stocks despite there being no news about the companies in question are a fairly common occurrence and such a thing happened with the Homeland Security Corporation (OTCMKTS:HSCC) yesterday.
There was no news about the company yesterday but investors flocked to the Homeland Security stock in a big way and it ended the day with handsome gaines of as much as 47%. In light of the gains made by the stock, it might be a good idea to perhaps take a look at an announcement from the company last month. Back on July 15, the company announced that David Slade resigned and retired from his position as the Chief Executive Officer and Treasurer at Homeland Security.
It should be noted that the resignation had gone into effect on June 30, 2021. The Vice President of the company Gary Williams spoke about the development. He stated that while the company was thankful to Slade for his services to Homeland Security, the company was looking forward to generating growth in the future under a new leadership team.
Following the resignation, James Werner took over as the Chief Executive Officer and Treasurer at the company immediately. These were key developments and might have been on the minds of many investors yesterday.