The Code Green Apparel Corp (OTCMKTS:CGAC) stock is perhaps one of the more intriguing stocks in the market at this point in time. There has been no news about the company for many years but the stock has continued to be in demand among investors in a big way. The intriguing state of affairs continued last Friday and the stock managed to clock gains of as much as 82% as investors continued to pile on to it.
In this situation, most investors are going to think that the rally is speculative in nature. However, considering the fact that the stock has continued to rally for a reasonable period of time, it could be a good idea to take a closer look.
It was back in 2017 that the last significant piece of news about Code Green Apparel emerged. At that time the company had announced that it was exploring the possibility of launching its golf apparel due to the high demand for sustainable golfing apparel from the United States market.
While it is true that it was an important announcement, it is highly unlikely that it had any effect on the rally in the stock in recent weeks. Hence, investors need to tread a bit more carefully when it comes to this stock.
