The news of a major acquisition can often prove to be of significance for a company’s stock and hence, it may be time for investors to perhaps take an interest in The ZICIX Corporation (OTCMKTS:ZICX) at this point.
Trading Data
On Thursday, ZICX stock moved up 1.33% to $0.0076 with more than 20.52 million shares, compared to its average volume of 1.25 million shares. The stock moved within a range of $0.0074 – 0.0128 after opening trading at $0.0092.
ZICIX Acquires CTIP-FII
The company was in the news on Thursday after it announced that it had completed the acquisition of CTIP First Investment Inc. Following this acquisition, CTIP First Investment is going to be the operating company of ZICIX and is going to take care of all the project development activities of the latter.
While CTIP is headquartered in New Jersey, it is registered in the state of Florida and is primarily involved in the project finance and project development spaces.
At this point in time, the company is engaged in developing government infrastructure projects in Latin America and Africa. It remains to be seen how the acquisition works out for ZICIX in the long run but this is an acquisition that could prove to be a major long-term boost for the company. It may now be a god idea for investors to add the stock to their watch lists and watch for further developments.
Key Quote
In an interview with ZICIX Chairman, Mr. William Petty, he said that it is about time that ZICIX should establish a strategic alliance with operating companies, like CTIP-FII involved in project development especially Governments that are planning to undertake their infrastructure development through Public-Private- Partnership (PPP).
Technical Data
ZICX stock is trading above the 20-Day and 50-Day Moving averages of $0.0051 and $0.0034 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0048.
