It is that time of the years when companies issue letters to shareholders with regards to the achievements and milestones that had been hit in the year gone by.
Yesterday, it was Small Business Development Group Inc (OTCMKTS:SBDG) which came into focus after it issued such a letter to its shareholders. It seems that the contents of the letter proved to be a hit for investors and the Small Business Development Group stock rallied by as much as 7% as a consequence.
Trading Data
On Monday, SBDG stock surged 27.20% to $1.45 with 89k shares, compared to its average volume of 27k shares. The stock has moved within a range of $0.9601 – 2.0650 after opening trade at $1.14.
Shareholder Letter From the CEO
Hence, it may be a good time for investors to consider having a look at some of the highlights from the letter that was released yesterday.
The company noted that throughout the course of 2021, the team at Small Business Development Group had been able to execute its plans well and that has set it on the path to bigger and better things. It was further noted that Small Business Development Group was on verge of embarking on a period of ‘extraordinary growth’ in 2022 and further. Such bullish statements can often lead to strong rallies and that is what seemed to have happened with the stock yesterday.
Technical Data
SBDG stock is trading above the 20-Day and 50-Day Moving averages of $1.22 and $1.08 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.5735. The stock is up 47% in the past month.
