The Indo Global Exchange (OTCMKTS:IGEX) stock seems to have come on to the radars of many investors in a big way over the course of the past days and the stock has clocked considerable gains.
Yesterday, the rally in the stock continued as it clocked gains of 48% and took its gains for the past week to as much as 95%. While the gains are handsome, investors need to also keep in mind that there has been no news about the company at all over the past week and the rally in the stock may well be speculative in nature.
It should be noted that there has been no news since as far back as January of last year about Indo Global Exchange. At the time, Indo Global announced that it had managed to complete the acquisition of the company MyoCare Sports. MyoCare is engaged in the performance based nutrition space and has managed to grow its foot print considerably in the United States.
Additionally, at the time of the acquisition, the company also had operations in Australia and Canada. That being said, it is highly unlikely that the rally in the stock in recent days came about due to that acquisition.