There were a number of stocks which recorded eye catching gains on Thursday and one of the more notable movers among those was the Lode-Star Mining Inc (OTCMKTS:LSMG) stock. The stock was in sharp focus yesterday after it announced that it had been successful in completing the acquisition of certain assets from Sapir Pharmaceuticals Inc.
Trading Data
On Thursday, LSMG stock soared 75% to $0.0840 with 600 shares, compared to its average volume of 3.3k shares. The stock has moved within a range of $0.0840 – 0.0840 after opening trade at $0.0840.
Sapir Pharmaceuticals Acquisition
The news came as a source of considerable optimism among investors and the Lode-Star Mining stock soared by as much as 75% as a consequence. In light of such enormous gains, it is highly likely that the stock is going to come into focus among investors today.
Hence, it could be a good move to take a closer look at the nature of the deal. As per the terms of the deal, Lode-Star managed to acquire all the assets which are connected to the proprietary stabilised formation related to the Epigallocatechin-gallate (EGCG) molecule. The company has completed the acquisition with the view of further development.
Naturally, the move has led to considerable enthusiasm among investors and it now remains to be seen if the Lode-Star stock can continue to be on the upward track over the course of the coming days.
Technical Data
LSMG stock is above the 20-Day and 50-Day Moving averages of $0.0589 and $0.0611 respectively. However, the stock is trading below the 200-Day moving average of $0.885.
