It may often come as a bit of a surprise when a largely dormant company sees considerable action in the markets and its stock ends up clocking considerably gains. Such a state of affairs was seen in the Nate’s Food Co (OTCMKTS:NHMD) stock on Monday.
Despite there being no news, investors seemed to take a fancy to the company’s stock and it ended the day with gains of as much as 42%. Considering the fact that there has been no news about the company at all since as far long back as 2014; many investors might think that the rally in the stock was largely speculative in nature.
Back in October 2014 the company had been in the news when it announced that it had raised its production capabilities and took it 100000 cans a day.
That worked out to as much as 24 million cans a year. While it is true that the possibility of boosting revenues by as much as $75 million a year was a big thing at the time, it is unlikely that the latest rally in the stock was triggered by that. It is going to be interesting to see if the Nate’s Food Co stock continues to add to its gains today.
