The stock may have been trading in a range but at the same time investors need to keep in mind that Legends Business Group Inc (OTCMKTS:LGBS) actually made a major announcement on Wednesday. Stocks trading in a range can often break out too and hence, it could be a good move to look closely at the announcement.
Trading Data
On Wednesday, LGBS stock ended flat at $0.0008 with more than 40.34 million shares traded, compared to volume of 17.40 million shares. The stock moved within a range of $0.0007 – 0.0009 after opening trading at $0.0008.
Legends Business Group, Inc. Announces Acquisition of 33 lots, asset value of $3.3 million
The company noted yesterday that it had managed to acquire land worth $3.3 million in Boise, Idaho on which it was going to develop as many as 33 lots. It was another milestone for the company considering the fact that it has been in the middle of an acquisition spree in 2022.
In total, Legends Business Group has managed to complete the acquisition of as many as 136 lots of land in 2022 so far and has spent $13.6 million to acquire those. However, it should be noted that this is unlikely to be the end of its acquisition spree. The company noted yesterday that it continued to work diligently for the expansion of its business. It might just be the right time to add the Legends Business Group stock to your watch lists and note developments.
Key Quote
Paul Bakajin CEO/President Stated: “The company’s position as a land developer continues to grow and our outlook has never been better. Our future growth will continue as we have many more land acquisitions planned.”
Technical Data
LGBS stock is trading below the 20–Day and 50-Day Moving averages of $0.0009 and $0.0011 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0050.
