Although there has been a lot of turmoil in the markets in recent days, there have been some stocks which have managed to hold their own and one such stock is the Costas Inc (OTCMKTS:CSSI) stock. It has made a strong move in the past few days and the trend continued yesterday as it ended the day with gains of as much as 24%.
Trading Data
On Wednesday, CSSI stock surged 24% to $0.0202 with more than 1.54 million shares, compared to its average volume of 38K shares. The stock moved within a range of $0.0190 – 0.0300 after opening trade at $0.0250.
Costas, Inc. Makes Offer to Purchase Standard Dental Labs Inc.
That took the gains made by the stock over the course of the past week to as much as 50%. Yesterday, the stock came into focus after it emerged that Costas had actually decided on an acquisition target with the view of boosting its business in the long term in the dental lab space.
To that end, Costas also made an offer to the shareholders of the target company with regards to the possibility of acquiring the company 100%.
The company in question that Costas wants to acquire is Standard Dental Labs Inc and an offer has already been made to the shareholders of the company. Standard Dental Labs had actually been established in 2019 in Wyoming. At this point in time, it may be a good idea for investors to possibly keep an eye on the developments.
Traders Corner
CSSI stock is trading below the 20-Day and 50-Day Moving averages of $0.0209 and $0.0296 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0299.
