There are times when stocks end up clocking significant gains despite there being no news about the companies in question and such a thing happened with the Cybernetic Technologies Ltd (OTCMKTS:HPIL) stock on Thursday.
There has been no news about the company for more than a month but the stock managed to attract the attention of investors in a big way on Thursday. The HPIL stock ended the day with gains of as much as 12%. In this situation, many might conclude that the gains were the result of speculative trading but it might be a good move to take a look at a development from back on August 11, 2021.
At the time the company announced that the application that it had sent in to the OTCIQ had been approved and that it became effective immediately. The Chief Executive Officer of the company Stephen Brown stated that the company was going to remain as the parent company of Medusa Artificial Intelligence, NFT Procurement, Cybernetic Technologies, World Gaming Group and Apogee Dynamics. The approval of the application was a major step for the company, however, it is difficult to connect it with the rally in the HPIL stock that took place on Thursday.
