This morning it is quite likely that the Legends Business Group (OTCMKTS:LGBS) stock is going to come on to the radars of many investors after it emerged as one of the notable gainers yesterday.
Trading Data
On Wednesday, LGBS stock gained 4.55% to $0.0012 with more than 74.17 million shares, compared to its average volume of 11.46 million shares. The stock moved within a range of $0.0011 – 0.0016 after opening trading at $0.0011
Legends Business Group, Inc. Announces Acquisition
The stock came into focus after it made a key announcement and ended up with gains of as much as 5% for the day. Legends Business Group announced yesterday that it had been successful in completing the acquisition of land in a transaction worth $2.3 million. The company noted that it was going to use the land it acquired in Boise, Idaho for the purpose of developing as many as 23 lots.
The announcement seemed to have come as a source of considerable optimism among investors and that was perhaps the reason why the stock rallied yesterday. In addition to that, the President and Chief Executive Officer of the company Paul Bakajin spoke about the developments as well.
He noted that Legends Business Group was in the strongest position in its history and the completion of two of its latest acquisitions are going to help it in generating growth in the future. He added that he was going to come up with more updates fairly soon.
Key Quote
Paul Bakajin CEO/President stated: “The company is in a stronger position than ever before. We have successfully completed two acquisitions, giving the company positive growth and a better future. I look forward in putting out many more updates very soon.”
Technical Data
LGBS stock is trading above the 20-Day and 50-Day Moving averages of $0.0011 and $0.0012 respectively. However, the stock is trading below the 200-Day moving average of $0.0058.
