Stocks can often rally or decline despite the lack of any concrete news about the underlying companies and that is what happened with the ProTek Capital Inc (OTCMKTS:PRPM) stock this past Friday.
There was no material news about the company but investors piled on to the stock undeterred and sent it soaring by as much as 29%. It remains to be seen if the stock can actually maintain the momentum today or if there is a correction. However, in light of the gains, it could be worthwhile to take a look at a key development with regards to ProTek back in July.
At that time, the company announced that its management was preparing to file a corporation action request with the FINRA and S1 registration with the United States Securities and Exchange Commission for dividends. However, that was no tall. ProTek also announced at the time that it was looking to launch some of the most ambitious business developments as well.
The record date for the dividend had been set for July 30, 2021. While these were important developments, it cannot be denied that it is unlikely those updates had any bearing on the latest rally in the ProTek stock. Investors could do well to keep an eye out for any fresh news about the company.
