There were many stocks which managed to clock notable gains last Friday and one of those was the SPOOZ Inc (OTCMKTS:SPZI) stock. The stock managed to record gains of as much as 47% last Friday but at the same time it is necessary to note that there was no news at all about the company at the time.
Trading Data
On Friday, SPZI stock soared 48% at $0.0034 with more than 39 million shares, compared to its average volume of 57.05 million shares. The stock has moved within a range of $0.0022 – 0.0035 after opening the trade at $0.0022.
Acquires Prime Niobium Mining Development Property
While the rally in the stock may appear random or even speculative, it is important for investors to take a closer look at events from the recent past in order to make up their minds. Back on October 28 this year, the company announced that it had been successful in acquiring a major and widely used rare earth mining project.
The project in question is located in Ontario in Canada. The rare earth mineral that is going to be mined at the project in question is Niobium and is used widely in a range of industries. It is primarily meant for the production of alloys which can resist high temperatures and in addition to that, special stainless production is also something in which Niobium is used widely. It now remains to be seen if the SPOOZ Inc stock can continue to add to its gains this week.
Technical Data
SPZI stock is trading above the 20-Day and 50-Day Moving averages of $0.0032 and $0.0029 respectively. Moreover, the stock is trading above 200-Day moving average of $0.0016. The stock is up 100% in the past 3-month.
