The CMG Holdings Group Inc (OTCMKTS:CMGO) came on to the radars of many investors yesterday after the company made a key announcement and that led to a rally in the company’s stock as well.
Trading Data
On Tuesday, CMGO stock increased 5.50% to $0.0096 with more than 3.89 million shares, compared to its average volume of 1.59 million shares. The stock has moved within a range of $0.0002 – 0.0100 after opening trade at $0.0095.
CMG Announces New XA Tourism and Pharmaceutical Activations
The stock ended up delivering gains of as much as 6% for the day. However, it is the right time to take a look at the announcement made by the company in relation to its fully owned subsidiary company XA, The Experiential Agency. CMO Holdings announced yesterday that that XA had got a PO with regards to the first of a total of five installations.
The PO was also related to the events that are going to take place from February through to the middle of March next year. The whole job is demarcated into five parts and is actually a global campaign meant for the promotion of tourism to a major country in Europe. In this regard, it is also necessary to point out that the whole thing is also being overseen by one of the biggest advertising agencies in the world at this point.
The announcement has naturally led to a certain degree of optimism about the CMO Holdings stock among investors. It remains to be seen if the momentum holds.
Technical Data
CMGO stock is below the 20-Day and 50-Day Moving averages of $0.0099 and $0.0101 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0104. The stock is down 2% in the past month.
