Starfleet Innotech Inc (OTCMKTS:SFIO) Stock Soars 50% In a Week: Here is Why

In the past week, there have been many stocks which have managed to record significant gains despite the volatility in the markets and one of the significant gainers was the Starfleet Innotech Inc (OTCMKTS:SFIO) stock.

Trading Data

On Friday, SFIO stock gained 0.82% to $0.0370 with more than 1.46 million shares, compared to its average volume of 2.61 million shares. The stock moved within a range of $0.0310 – 0.0390 after opening trade at $0.0358.           

Recent News

The global investment holding company experienced a significant surge in interest in the past week and ended up with gains of as much as 50% during the period. The company which has made its name in the food and beverages business, came into focus last month when it made an announcement with regards to its latest initiative in Malaysia.

The company announced back on February 11 that its team in Malaysia had launched the mall kiosk coffee chain named Hungry Dudes. More importantly, the company also noted that that it was going to add additional kiosks later on in 2022. On the other hand, Starfleet is also planning to turn some of these kiosks under the Hungry Dudes kiosks into outlets for Epiphany Café, which is its flagship food and beverage brand.

At this point in time, it may be a good move for investors to perhaps add the stock to their watch lists and watch for further developments.

Technical Data

SFIO stock is above the 20-Day and 50-Day Moving averages of $0.0295 and $0.0271 respectively. The stock is trading in the neutral zone with the RSI at 62.