This week, the All American Pet Company Inc (OTCMKTS:AAPT) stock has emerged as one of the more notable movers in the market. The stock had moved strongly but on Thursday investors decided to book some of their profits and the stock declined by as much as 12% as a consequence.
Despite the drop in the stock price yesterday, it should be noted that the stock of the Nevada corporation is still up by as much as 45% over the course of the week so far. The stock had come into focus earlier on this week after American Pet Company announced that it signed a letter of intent with regards to the acquisition of a tech company that commands a valuation of $200 million.
In addition to that, the company also noted that the management had completed the due diligence with regards to the acquisition and it had been concluded that the acquisition was in the best interests of both the shareholders as well as American Pet Company. The letter of intent that had been signed by the company is binding in nature and American Pet Company is going to acquire all the issued as well as outstanding shares in the tech company.
