Last Thursday, the CMG Holding Group Inc (OTCMKTS:CMGO) stock may have been trading within a range but the company did make an important announcement and it may be a good move to take a look at it.
Trading Data
On Thursday, CMGO stock moved down by 1.33% to $0.0089 with 1.31 million shares, compared to its average volume of 1.64 million shares. The stock has moved within a range of $0.0072 – 0.0100 after opening trade at $0.0090.
Latest Development
The company announced at the time that it had decided to retain the services of E&E Communications for taking care of its investor relations initiative. In addition to that, E&E is also going to be responsible for bring in new investors to CMG Holding Group. It goes without saying that it was a significant development and could have a major effect on the company’s performance in the near term.
The company principal Paul Knopick spoke about the development as well. He stated that E&E Communications has a track record of success and has provided its services to a large number of companies since as far back as 1997. Such a move may not have led to any excitement among investors thus far but it may be a good idea to keep an eye on the developments with regards to CMG Holding Group over the coming months. It will be interesting to see if the stock has a breakout or not.
Key Quote
“We are excited to assist this excellent Company. With recent stock purchases on the open market by its CEO, this is a public Company that cares about its shareholders, and has an excellent story to tell,” said Mr. Knopick.
Technical Data
CMGO stock is trading below the 20-Day and 50-Day Moving averages of $0.0092 and $0.0097 respectively. However, the stock is trading below the 200-Day moving average of $0.0104. The stock is down 4% in the past month.
