Those who may be on the hunt for stocks to have made handsome gains in recent days could consider taking a closer look at the IGEN Networks Corporation (OTCMKTS:IGEN) stock. The company, which is involved in the Internet of Things and cloud solutions space for protecting mobile assets, saw its stock jump by as much as 58% on Tuesday.
Trading Data
On Tuesday, IGEN stock soared 58% to $0.0087 with more than 292.25 million shares, compared to its average volume of 17.81 million shares. The stock has moved within a range of $0.0060 – 0.0098 after opening trade at $0.0063.
IGEN’s Nimbo Tracking and Peak Performance Team launches Nationwide Dealership Program
More importantly, the rally that took place yesterday took its cumulative gains for the past week to as much as 135%. Yesterday’s rally came about after the company announced that it launched a new initiative for a Dealership Program spread across the nation between the Nimbo Tracking at the IGEN Networks Corporation and Peak Performance Team.
It goes without saying that it was a major development for the company and the optimism among investors was perhaps not much of a surprise. In the initial phase of the initiative, as many as 1500 new vehicle activations related to the inaugural Master Purchase program is going to take place through the distribution channel managed by the IGEN Networks Corporation’s Nimbo Tracking. In light of the gains made by the stock in recent days, it might be the right time to add the stock to your watch lists.
Key Quote
“The Peak Performance Team (PPT) is a nationwide organization and industry leader in providing protection products, lending, technology, and training to dealerships across 28 States and Markets. The Peak Performance Team serves more than 450 franchise and pre-owned automotive dealerships with tens of thousands of vehicles bought and sold each month,” said Michael Burgholzer, President of Peak Performance Team.
Technical Data
IGEN stock is trading in the overbought zone as RSI stands at 67. IGEN stock is trading above the 20-Day and 50-Day Moving averages of $0.0051 and $0.0053 respectively. The stock is up 128% in the past week.
