Investors are frequently on the lookout for stocks which might have made significant gains on the previous day and by that principle, it could be a good time to start tracking the CGrowth Capital Inc (OTCMKTS:CGRA) stock.
Trading Data
On Wednesday, CGRA stock gained 133.33% at $0.0273 with more than 102.50 million shares, compared to its average volume of 4.55 million shares. The stock has moved within a range of $0.0102 – 0.0288 after opening the trade at $0.0102.
Major News
The stock flew yesterday and managed to clock gains of as much as 133% as investors piled on to it after the company announced that it had signed a letter of intent with regards to the potential acquisition of WBS Organisation. It was a significant announcement from the company and the excitement among investors was perhaps understandable.
In this context, it is important for investors to get a better idea about WBS Organization as a company. It is a global business services company and offers a wide range of services in order to help in acquiring interests as well as titles in the Bahamian Petroleum Project.
Hence, the potential acquisition of this company could give CGrowth Capital a significant foothold in a potentially lucrative industry and that could be one of the major reasons behind the current excitement about the stock. It might be a good idea for investors to keep an eye on the stock today and see if it can continue to add to its gains.
Traders Corner
CGRA stock is trading above the 20-Day and 50-Day Moving averages of $0.0149 and $0.0149 respectively. Moreover, the stock is trading above 200-Day moving average of $0.0119. The stock is down 69% in the past month.
