In the past week, the IJJ Corporation (OTCMKTS:IJJP) stock has garnered considerable attention from among investors and the situation remained the same on Wednesday as it clocked gains of as much as 17%.
Trading Data
On Wednesday, IJJP stock soared 17% to $0.0014 with more than 377.43 million shares, compared to its average volume of 14.66 million shares. The stock moved within a range of $0.0014 – 0.0025 after opening trading at $0.0017.
IJJCorp has signed a Letter Of Intent to acquire 51% of Montech, Inc. (MNTCH)
The gains made by the stock yesterday took the gains made by the stock over the course of the past week to as much as 27%. Yesterday, the IJJ stock came into focus among investors after it announced that it had inked a letter of intent in relation to the acquisition of a 51% stake in the company Montech.
If and when the transaction is eventually closed, Montech is going to operate as a subsidiary of IJJ Corporation. On the other hand, the Chief Technology Officer and Founder of Montech, OlumideAkinwanade is going to continue to have management control and will be in charge of the day to day operations. In addition to providing IJJ Corporation with the technology services, Montech will also continue to work on its own projects.
At this point in time, it is going to be interesting to see if the stock continues to add to its gains through the rest of the week or not. It may be a good idea to keep eye on it.
Technical Data
IJJP stock is trading above the 20-Day and 50-Day Moving averages of $0.0012 and $0.0014 respectively. However, the stock is trading below the 200-Day moving average of $0.0027.
