Trans Global Group (OTCMKTS:TGGI) has been in sharp focus among investors over the course of the past few days and hence, the remarkable rally in the stock is perhaps not surprising.
On Wednesday, TGGI stock surged 78.72% at $0.0168 with more than 230.43 million shares, compared to its average volume of 211.53 million shares. The stock has moved within a range of $0.0090 – 0.0179 after opening the trade at $0.0095.
The stock was in the middle of another strong rally on Wednesday and ended the day with gains of as much as 79%. That took its gains for the past week to as much as 145% and in light of such gains, it might be important for investors to take a closer look at it again. The company recently announced its financial results and noted that it neither had any operations nor any assets.
The company noted that in the six month period that had ended on June 30, 2021 it had generated no revenues at all and at the same time its operating expenses came in at $1232. However, the expenses came down considerable on a year on year basis. In the prior year period, Trans Global had incurred costs of as much as $49,742 and hence it marks a significant reduction in a year. It should be noted that in the prior year period, the company did not generate any revenues either.
TGGI stock is trading above the 20-Day and 50-Day Moving averages of $0.0106 and $0.0100 respectively. Moreover, the stock is trading above 200-Day moving average of $0.0047. The stock is down 42% in the past month.