The rally in the US Lighting Group Inc (OTCMKTS:USLG) stock over the course of the past few days has been quite strong and during that period it has delivered gains of as much as 32%. In addition to that, the company also made a major announcement yesterday and it may be the right time for investors to take a look into it.
Trading Data
On Tuesday, USLG stock moved up 0.06% to $0.3947 with more than 58K shares, compared to its average volume of 31K shares. The stock moved within a range of $0.3210 – 0.4000 after opening trade at $0.3990.
US Lighting Group Subsidiary, Fusion X Marine, Starts Production on its First Mini Speedboat to Compete with the Jet Ski Industry
US Lighting Group announced yesterday that Fusion X Marine, its fully owned subsidiary unit, had started the manufacturing of a 15 feet mini speedboat. It was a major new development for US Lighting Group and the initial business plan for the speedboat was also laid out in yesterday’s announcement.
It was noted that the high end powerboat is going to offered to rental websites at both international and domestic level. In addition to that, it was also noted that a small powerboat could also be appealing to a wider clientele. It could appeal to those who are enthusiastic about jet skis and on top of that, first time boat owners could also find the specimen attractive. In light of the latest development and the rally in the US Lighting Group stock, it could be the right time to start tracking the stock.
Key Quote
“We are delighted to be in production with our 15-ft mini speedboat,” said Anthony Corpora, CEO and President of the US Lighting Group. “Fusion X Marine’s 15-footer has numerous advantages over Jet Skis including a longer boating season, and can be used in all waters, including lakes and oceans. The 15-ft boat can have up to a 50 HP outboard motor and is approved by the U.S. Coast Guard for Safe Loading.”
Technical Data
USLG stock is trading above the 20-Day and 50-Day Moving averages of $0.2384 and $0.1438 respectively. The stock is trading in the oversold zone with RSI stands at 87.
