Anyone who is looking into stocks which may have recorded major gains on Monday could do well to consider taking a closer look into the Saddle Ranch Media Inc (OTCMKTS:SRMX) stock this morning. Following an announcement from the company’s subsidiary unit Tri Cascade Inc on Monday, the Saddle Ranch stock rallied hard and went on to record gains of as much as 44% yesterday.
Trading Data
On Monday, SRMX stock soared 43.75% $0.0012 with more than 486.56 million shares traded, compared to volume of 34.85 million shares. The stock moved within a range of $0.0008 – 0.0013 after opening trading at $0.0008.
Tri Cascade announced yesterday that its product TRITOM SG500M2-X, a 5G New Radio module, had been awarded the coveted T-Mobile Technical Assistance. In addition to that, it had also been awarded the certification by T-Mobile for operating on the 5G and LTE networks which are operated by the company in the United States.
It goes without saying that it was a major new announcement from the company and one that would directly benefit Saddle Ranch Media, the parent company. The product in question is particularly important for IoT or Internet of Things products and that may have been another factor behind the optimism. This morning it is going to be interesting to see if the product can manage to gain traction among investors once again and add to its gains.
Key Quote
“With 5G’s capability of driving AI and ML in Manufacturing, increasing Public Safety and expanding Supply Chain Management, we see Tri Cascade’s certification with T-Mobile introducing us to a broader base of clients. 5G facilitates higher data speeds with lower latency allowing connected IoT devices to communicate and share data at higher speeds. 5G enables an increase in connection density which allows more devices to connect with efficient signaling for IoT. This will enable us to address many of our clients’ needs. This is a major milestone accomplishment for the Company,” said Jerome Riordan, Vice President of Global Business Development and Sales of Tri Cascade, Inc.
Technical Data
SRMX stock is trading above the 20-Day and 50-Day Moving averages of $0.0006 and $0.0006 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0011.
