Profit booking is something that can often lead to significant declines in stock prices and that is what happened with the Trans Global Group (OTCMKTS:TGGI) stock on Monday.
After having recorded considerable gains not too long ago, the stock declined by as much as 29% yesterday after investors decided to book some of their profits. That being said, it should also be noted that the steep fall in the stock price could also be an opportunity for new investors and hence, it might be a good idea to take a closer look at Trans Global.
It should be noted that the rally in the stock had not been driven by any material news about the company and that is one factor that might be difficult for any investors to ignore. The last time there was any news about the company was when Trans Global made an announcement with regards to the fact that it was going to introduce some new products.
However, in conjunction with the same announcement the company also noted that it was not actually going to go for a reverse stock split. That may also have been seen as a positive by most of the investors in Trans Global.
