In the past week, the SPO Global Inc (OTCMKTS:SPOM) stock had been one of the major movers in the markets and the trend continued yesterday as the stock ended the day with gains of 5%.
Trading Data
On Tuesday, SPOM stock moved up 5.60% to $0.0189 with more than 1.90 million shares, compared to its average Tuesday of 561K shares. The stock moved within a range of $0.0178 – 0.0193 after opening trade at $0.0180.
SPO Global Inc. Announces Partnership Between Cinuo Traditional Chinese Medicine, Science and Technology Group Co., Ltd and Spun SPO Medical (Group), a subsidiary of Gerbang Medical
In this regard, it is also necessary to point out that the gains made by the stock yesterday took the cumulative gains over the course of the past week to as much as 11%. It is a fairly small sized biotech and healthcare firm and yesterday it came into focus after it announced the formation of a key partnership.
The partnership in question is between Cinuo Traditional Chinese Medicine, Science and Technology Group Co Ltd and SPUN SPO Medical. SPUN SPO Medical is a subsidiary company of Gerbang Medical. It goes without saying that it was a major new development for the company and it is now going to be interesting to see if the SPO Global stock can actually continue to add to its gains in the coming days or not.
At this point in time, it may be a good idea for investors to add the stock to their watch lists and watch further developments intently.
Key Quote
Lu Fengyou, chairman of SPO Medical Group, expressed the hope that in the future, he would cooperate with Cinuo Chinese Medicine Science and Technology Group in depth to jointly build a Chinese medicine substitute service that can provide residents with nearby, convenient and fast services. He also hopes to build an E-Health Chinese Medicine R&D and Innovation Center, which will be divided into four major sectors, including the platform of smart Chinese medicine system and the product R&D achievement transformation station, modern Equipment Laboratory, as well as an Institute of Traditional Chinese Medicine Plant Gene Breeding. This would set a new benchmark for Chinese medicine centers in Shandong.
Technical Data
SPOM stock is trading above the 20-Day and 50-Day Moving averages of $0.0166 and $0.0163 respectively. However, the stock is trading below the 200-Day moving average of $0.0250.
