KinerjaPay Corp (OTCMKTS:KPAY) Stock Suddenly Jumps 57%: Here is Why

On Monday, the KinerjaPay Corp (OTCMKTS:KPAY) stock emerged as a major gainer out of nowhere and ended the day with gains of as much as 57%. There was no news about the company or the sectors in which it is involved, but investors took a shine to the stock and flocked to it in a big way.

Since there has been no fresh news about the company it could be perhaps be a good move to take a look at a major development regarding the e-commerce and payment gateway company from back in June.

However, the Indonesia based company has also started getting into the commodity and mineral trading space in recent times. Back on June 25, KinerjaPay announced that it was making preparations with regards to another shipping schedule for sending steam coal to China.

At the time, the company also pointed out that it had received the bank guarantee by way of a letter of credit from the Buyer’s Bank. The letter of credit was for an amount of $1,650,000. The company also announced that after the receipt of the letter of credit, it started working with barges and miners in order to eventually complete the shipment.