Stocks soaring despite there being no news are not an uncommon occurrence on the markets and this past Friday, it was the Dragon Capital Group Corp. (OTCMKTS:DRGV) stock that made such a move.
Dragon Capital Vietfund Management saw its stock soar by as much as 80% amidst heavy interest from investors. However, considering the fact that there was no news about the company, it might be the right time to take a look at a development from back in April in order to get a better idea about Dragon Capital. First of all, it is an innovative Vietnamese company that came into prominence in April after it launched the first voluntary retirement program in the country.
The program in question was launched by the company at a major event held at the Hilton Opera Hanoi on April 27. There were as many as 80 participants at the event including government officials from key ministries, Standard Chartered Bank, the World Bank and also the media.
It goes without saying that the launch of the program was a significant milestone for Dragon Capital. However, at the same time, it should be noted that the latest rally might not have been related to the April announcement.
