There has been no news at all regarding Eline Entertainment Group (OTCMKTS:EEGI) for quite some time but that did not stop the company’s stock from coming into sharp focus among investors on Friday.
Trading Data
On Friday, EEGI stock surged 37.50% to $0.0011 with more than 359.68 million shares, compared to its average volume of 61.80 million shares. The stock moved within a range of $0.0008 – 0.0012 after opening trade at $0.0008.
Eline Entertainment Group (OTC:EEGI) Submits Updated Filings
The Eline Entertainment stock was in the middle of a significant rally on Friday and ended up clocking gains of as much as 38%. That being said, it should be noted that the rally might appear random or speculative to many investors since the last time any news emerged about Eline Entertainment was back in July last year.
Back in July 2021 the company announced that it was on the verge of becoming compliant with the rules of the OTC Marketplace. It was also noted that Josh Egelston, the new Chief Executive Officer of the company had taken up his position and had been given access to the OTC IQ. Access to OTC IQ is important for any company looking to regain compliance since it is a portal that allows them to submit the necessary documents.
However, at the same time, it cannot be denied that the latest rally in Eline Entertainment may not have been linked to it. It remains to be seen if any news emerges about the company today.
Key Quote
CEO Josh Egelston: “EEGI is making aggressive moves to bring our company current and acquire entertainment companies relevant to our market. Our goal is to leverage the strength and resources of multiple companies to usher in disruptive and emerging entertainment.”
Technical Data
EEGI stock is trading above the 20-Day and 50-Day Moving averages of $0.0008 and $0.0004 respectively. However, the stock is trading above 200-Day moving average of $0.0023.
