Last Friday the mergers and acquisitions company ILUS International Inc (OTCMKTS:ILUS) saw its stock make a strong recovery on Friday as it ended the day with gains of as much as 12%. While the recovery may have been strong, it should be noted that the stock is still down by as much as 22% over the course of the past week.
Trading Data
On Friday, ILUS stock surged 12.31%% to $0.2245 with more than 21.88 million shares, compared to its average volume of 12.39 million shares. The stock moved within a range of $0.2001 – 0.2265 after opening trade at $0.2025.
ILUS Enters the $500 Billion Metaverse Market by Acquiring KurveXR from TakeLeap
The company is mainly focused on the acquisition and development of tech companies all over the world which are involved with public safety. New management had been installed at the company around a year ago and since then ILUS has been on an acquisition spree.
During that period, the company has been successful in completing the acquisitions of as many as six entities which are strategically linked to its interests. The continued expansion of its portfolio has perhaps come as a source of optimism among investors and that was possibly the reason behind the strong rally in the stock on Friday. That being said, it is going to be interesting to see if the ILUS stock can maintain the momentum and manage to add to these gains over the course of this week.
Technical Data
ILUS stock is below the 50-Day and 200-Day Moving averages of $0.27 and $0.32 respectively. However, the stock is trading above the 20-Day moving average of $0.21.
