Despite there not being any news about the company over the course of the past week, the MGT Capital Investments Inc (OTCMKTS:MGTI) stock has managed to emerge as a major gainer during the period and clocked gains of as much as 49%.
In this sort of situation, it might be a good move for investors to perhaps take a look at a development from back on September 30 this year. At the time it emerged that MTG Capital Investments signed an exchange agreement with the Utah based company Bucktown Capital LLC.
As per the terms of the agreement, the lender agreed to exchange the convertible promissory notes in its possession totalling as much as $13,210,000 for warrants to pick up 5,3500,000 shares in MGT Capital Investments. It was a major deal for the company and one that might have led to considerable excitement among investors.
The warrants in question can be exchanged by the lender at any point within 5 years from March 5, 2021. That being said, it is now difficult to ascertain whether the latest rally was linked to this particular agreement or not and hence, investors need to keep an eye on the latest news with regards to MTG Capital.
