When a stock clocks staggering gains over the period of one week then it might be a good time for investors to start looking into it a bit more closely. The stock in question is NuGene International (OTCMKTS:NUGN), which managed to deliver gains of as much as 117% over the course of the past week.
Trading Data
On Friday, NUGN stock moved down 1.60% to $0.0433 with more than 1.24 million shares, compared to its average volume of 2.32 million shares. The stock moved within a range of $0.0400 – 0.0470 after opening trade at $0.0470.
Major Trigger
It has emerged as one of the more popular microcap stocks at this point in time and in recent months, it garnered considerable attention from investors. The trading volume in the stock also went higher progressively over the past months and that helped the NuGene stock in emerging as one of the more popular stocks in the market.
The company is involved in the regenerative medicine space and it is a space that could eventually deliver significant growth. The United States Department of Health and Human Services called the industry the ‘next evolution’ as far as medical treatments are concerned.
Back in 2014, this market was estimated to have had the size of $7.2 billion in the United States. Hence, in this situation, it may be a good idea for investors to add the stock to their watch lists.
Technical Data
NUGN stock is trading above the 20-Day and 50-Day Moving averages of $0.0263 and $0.0218 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0189.
