It is almost certain that a number of investors are going to looking closely into the Tiderock Companies Inc (OTCMKTS:TDRK) stock this morning after it emerged as one of the biggest gainers yesterday and ended up with gains of as much as 58%.
Trading Data
On Tuesday, TDRK stock surged 58.08% to $0.0411 with more than 43.5K shares, compared to its average volume of 126K shares. The stock moved within a range of $0.0317 – 0.0411 after opening trading at $0.0325.
Tiderock : to Acquire Majority Control of Florida Certified General Contractor
In light of such enormous gains, it could be a good time for investors to take a look at the announcement from the company yesterday and then make up their minds about the stock. The company announced yesterday that it had signed a letter of intent with regards to the acquisition of a 51% stake in the company Charles Burgan LLC. The company is a certified general contractor which is based out of Florida.
The acquisition could potentially prove to be a major move in the Florida market for Tiderock Companies and that may be the reason behind the optimism among investors. As it happens, Charles Burgan has been involved with the market in Florida since as far long back as 2006. It specialises in providing full build and design services to its clients. In addition to that, it is also involved in commercial construction. It remains to be seen if the Tiderock stock can add to its gains today.
Key Quote
Tiderock CEO, Tom Fore commented, “We are excited about this unique opportunity. Mr. Burgan has been a successful project designer and contractor for over three decades. He has a spotless record with the Florida Department of Business and Professional Regulation and has great working relationships with the local municipalities. Concurrent with closing the transaction, which is targeted to occur within the next 30 days, the newly acquired majority owned subsidiary will be renamed Sora Burgan Construction.” Tiderock will be issuing restricted common stock for the acquisition. Mr. Burgan will stay on as qualified employee, in addition to providing project management, planning and design services.
