If there is one stock that most investors are likely to track today, then it is the Freedom Holdings Inc (OTCMKTS:FHLD) stock. It was one of the biggest gainers in the market on Wednesday as it soared by an eye popping 770% on the back of heavy action.
Trading Data
On Wednesday, FHLD stock moved up 771% to $1.22 with more than 956K shares, compared to its average volume of 5K shares. The stock has moved within a range of $0.3500 – 1.9800 after opening trade at $0.4350.
Freedom Holdings Signs Binding Letter of Intent to Acquire Blockchain-Based Asset Management Company
In light of such enormous gains made by the Freedom Holdings stock, it may be a good time for investors to look into the announcement. The company announced on Wednesday that it had inked a binding letter of intent by way of which it is going to complete the acquisition of the blockchain power asset management company Carbon Zero Asset Management.
The announcement was a significant one considering the fact that the acquisition is going to help the company in creating a blockchain platform that is going to be based on Ethereum. It should be noted that Ethereum is currently one of the more popular blockchain platforms and remains a major driver in the rapid growth of the digital economy.
Hence, the rally in the stock was perhaps understandable considering the excitement such announcements can cause among investors. Can the stock add to its gains today?
Key Quote
Brian K. Kistler, CEO of FHLD, said, “We are pleased to achieve this significant milestone for the Company and our shareholders. I’m further excited to join forces with COzero Asset Management, Inc. ‘s management team, which has a proven history in building successful businesses in the Blockchain Technology. The new direction for the Company will create a digital economy powerhouse driven by proven technology, in the growing global environmentally friendly industry.”
Technical Data
FHLD stock is above the 20-Day and 50-Day Moving averages of $0.29 and $0.23 respectively. However, the stock is trading below the 200-Day moving average of $1.87. The stock is up 662% in the past week.
