Yesterday, the Total Multimedia Inc (OTCMKTS:TMMI) stock emerged as one of the stronger movers in the market as it ended up with gains of as much as 11% for the day. Considering the magnitude of the gains made by the stock it may just be the right time for investors to take a greater interest in the company, its business, and the latest developments. That will be one way of figuring out if the rally is going to continue or not.
Trading Data
On Thursday, TMMI stock gained 11.11% to $0.0220 with more than 1.3 million shares, compared to a volume of 262K shares. The stock moved within a range of $0.0156 – 0.0248 after opening trade at $0.0199.
About The Company
Total Multimedia is an innovative company in the high-quality video technology industry and offers a range of highly specialized services. Some of the services it offers include high-quality image management, video scaling, and video compression. Total Multimedia had been established back in 1990 and is still regarded as the company that pioneered fractal video. The services that the company offers nowadays is meant for products as well as systems that have a requirement for high-quality videos.
Total Multimedia (TMMI) Announces A New President And CEO
Yesterday, the Total Multimedia stock soared after it emerged that the company had appointed a new director to its board of directors in the form of Susan Bala. However, that is not all. Bala is also going to be the new Chief Executive Officer, President, and Chairman of Total Multimedia.
An appointment of that nature can almost always have a significant effect on a company’s stock, one way or another, but happily, for Total Multimedia, it seems that investors were in agreement with the appointment. The rally in the stock was possibly a thumbs up from the investors.
In its statement, Total Multimedia noted that Bala had been voted to the board of directors unanimously. On the other hand, it was also mentioned that the appointment of Bala to the top job at the company was part of the initiative from Total Multimedia to have a highly experienced business person to oversee the company.
It should also be noted in this regard that Bala has been a shareholder in Total Multimedia for a long time and the company believes that she has the vision as well as determination to formulate new strategies for further growth.
Key Quote
“The TMMI Board of Directors has unanimously voted for the appointment of Ms. Susan Bala to the Board of Directors. We have awaited this opportunity to place a seasoned businessperson at the helm of TMMI. Ms. Bala, a long-time shareholder of TMMI, possesses a vision and the determination to meet challenges. Her business acumen will be fuel to move the Company forward with new strategies for its Microsoft Windows-based technologies and other compatible products.
Technical Data
TMMI stock is trading below the 50-Day and 200-Day Moving averages of $0.0219 and $0.0222 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.0225.
