In the past week, the Trans Global Group Inc (OTCMKTS:TGGI) stock emerged as one of the major movers in the market and managed to clock gains of as much as 81% during the period. In light of the enormous gains clocked by the Trans Global stock it is perhaps time for investors to take a closer look at the company.
Trading Data
On Friday, TGGI stock jumped 6.08% at $0.0192 with more than 204.95 million shares, compared to its average volume of 224.24 million shares. The stock has moved within a range of $0.0157 – 0.0212 after opening the trade at $0.0175.
Latest News
However, at the same time it is perhaps important to keep in mind that there has been no news about the company at all for many months and the last time any news emerged about the company was back in March this year.
Due to the dearth of any news, it might be a good idea for investors to take a look at the events from March this year. At the time the company provided a clarification with regards to some rumours that had been circulating about the company in China.
While putting the record straight with regards to the rumours was a good move, it is highly unlikely that the rally in the past week was related to that in any way. Hence, it could be a good idea for investors to wait for further information before making any moves.
Technical Data
TGGI stock is trading above the 200-Day and 50-Day Moving averages of $0.0121 and $0.0106 respectively. Moreover, the stock is trading above 20-Day moving average of $0.0049. The stock is up 81% in the past month.
