LED lighting and renewable energy company Cyberlux Corporation (OTCMKTS:CYBL) has not been in the news cycle since July but that has not stopped investors from piling on to its stock over the course of the past week.
Yesterday, the stock was in focus yet again and ended the day with gains of 17%. The gains over the past week now stand at 120% and in such a situation it might be a good idea for investors to start tracking the stock. In the absence of any concrete news, investors need to note that back on July 9 this year Cyberlux announced a series of updates about some of its initiatives.
The company noted that once it was granted the coveted OTC Pink Current status it was going to file for an amendment by way of which it was going to bring down the number of authorised shares.
Cyberlux added that the number of authorised will be reduced from 20 billion to 8.75 billion and that reflects a massive reduction by as many as 11.25 billion shares. The company’s management believes that the particular level will give the company an adequate amount of strategic equity in order to take care of its growth plans.
