The Eline Entertainment Group (OTCMKTS:EEGI) stock was in the middle of a major move yesterday and ended the day with gains of as much as 25% as investors flocked to it in a big way.
While the gains are considerable, it is also necessary for investors to remember that there was no news about the company yesterday that might have led to such a strong rally in the Eline Entertainment stock. The last major news about the company actually emerged back on July 29. At the time, Eline Entertainment announced that it was in the middle of the process by way of which it was going to become compliant again with the OTC Markets rules.
At the time the company announced that after its new Chief Executive Officer Josh Egelston took over, he has been given the much needed access to the OTCIQ. That was a major new development for Eline Entertainment considering the fact that access to the OTCIQ is going to allow the company in submitting all the necessary documents and eventually get the pink status removed from its stock. At this point in time, it might be a good move for investors to keep the Eline Entertainment stock in their watch lists.