Legends Business Group (OTCMKTS:LGBS) was the biggest loser in the previous trading session on unusual volume.
Market Action:
On Thursday, LGBS stock fell 51.43% at $0.0051 with more than 423.27 million shares, compared to its average volume of 37.68 million shares. The stock has moved within a range of $0.0050 – 0.0110 after opening the trade at $0.0105.
Legends Business Group, Inc. Announces Acquisition
Legends Business Group (OTCMKTS:LGBS) announced acquisition of North Star Developers from AAP. AAP will be selling half of the stake in North Star Developers and the acquisition will be valued at $1.5 million dollars . This will enable AAPJ to receive 300,000,000 common shares, which would be valued at 0.005 share for acquisition completion . The transaction will be good for both forms . AAPJ has three businesses and the management is firm on selling the interest to LGBS.
They feel that the investment in successful construction company, Red Tail, entails concentration on favourable growth in addition to developing compatible opportunities.
AAPJ also has a debt collection business which it continues developing. The firm is excited to move forward and is becoming a fully operated firm with a bright future.
North Star has a number of assets and feels that there is tremendous potential. The company highlighted being busy and evaluating a number of projects as well as business opportunities. North Star added that the firm is moving in a new direction and with LGBS on board, it will become a company with a significant potential.
A new website is being also developed for Legends and will be made available to everyone very shortly.
Traders Note
LGBS stock is trading below the 20-Day and 50-Day Moving averages of $0.0098 and $0.0101 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0066. The stock is down 60% in the past 3-month.
