Microcap stocks may be known for their inherent volatility but at the same time it cannot be ignored that those same stocks can often generate enormous gains. Anyone who might be on the hunt for microcap stocks this morning could do well to consider taking a look at the Icon Media Holdings (OTCMKTS:ICNM) stock, which had emerged as a major gainer in that segment last Friday.
Trading Data
On Friday, ICNM stock soared 38.46% to $0.0018 with more than 342.32 million shares, compared to its average volume of 109.33 million shares. The stock has moved within a range of $0.0014 – 0.0018 after opening trade at $0.0014.
Latest News
The stock continued on its upward move on Friday and ended up with gains of as much as 38%. IN light of such strong gains, it is quite likely that the stock is going to command significant attention from investors today.
The rally in the Icon Media Holdings stock had started last year on December 27, 2021 when the company had made an announcement with regards to the fact that the stock had gone pink current. IN addition to that, Icon Media had also announced that it had come under the custodianship of Frank Igwealor and could be part of a SPAC (special purpose acquisition company) reverse merger deal. In light of the gains made by the stock on Friday and these development, Icon Media could well be a stock to watch out for this morning.
Technical Data
ICNM stock is trading above the 20-Day and 50-Day Moving averages of $0.0014 and $0.0012 respectively. However, the stock is trading below the 200-Day moving average of $0.0009.
