Despite the overall carnage in the markets on Monday, there were some stocks that managed to keep their heads above water and ended up recording gains. One such stock was that of Zicix Corporation (OTCMKTS:ZICX), which attracted the attention of investors and ended up with gains of as much as 7% for the day. In its original avatar, Zicix had been a healthcare industry service provider.
Trading Data
On Monday, ZICX stock moved up 6.82% to $0.0047 with 2.36 million shares, compared to its average volume of 2.37 million shares. The stock moved within a range of $0.0047 – 0.0058 after opening trade at $0.0051.
About The Company
However, it eventually restructured its business later on and turned into a company that was involved in the acquisition and development of technology applications meant for various industries. The industries with which the company primarily works include retail, consumer, and other industries. The rally in the Zicix stock on Monday was brought about by a specific announcement from the company and it may be a good idea to perhaps take a look into it.
Zicix And CTIP-FII Joins Development Of P2A Hospital Project In Senegal
The Chairman of the company William A Petty announced on Monday that CTIP First Investment Inc, which is a Zicix Corporation unit had been given the go-ahead for investing and undertaking a massive healthcare project in Dakar, Senegal.
The project in question is the development of a 300-bed hospital, a hotel/dormitory comprising 250 rooms, and a solar energy project with a capacity of 5 MW. The cost of the entire project is going to be $160 million. It was a major new announcement from the company and one that led to considerable excitement among investors as well. It is now going to be interesting to see if the stock can extend its gains over the course of the rest of the week or not.
The Chairman of the company further noted during an interview that as a listed company Zicix is interested in unlocking more value for its shareholders.
In addition to that, the possible profits that the company may earn from the development of the project, also raise the possibility of the company acquiring more assets in the healthcare sector. It should be noted that the Project Development Contract has already been executed by CTIP First Investment with Dakar-based Polyclinique de L’Amitieet de L’Alliance (P2A).Polyclinique de L’Amitie is a company whose shareholders are made up of doctors, nurses, medical practitioners, and others from France and Senegal. Those professionals have decided to organize themselves so that they could engage in their professions once the project is concluded.
ZICIX Finalizes Acquisition of CTIP-FII
The latest news about the contract has put Zicix in focus among many investors and it now remains to be seen if the momentum persists or not. In this regard, it is perhaps also important to point out that it was only last month on June 29, 2022, that Zicix completed the acquisition of CTIP First Investment.
It should be noted that Zicix did not acquire the entirety of the company but in fact, had picked up significant interest in it. However, the latest news suggests that it could well prove to be an acquisition that started bearing fruits quite quickly.
Technical Data
ZICX stock is trading below the 20-Day and 50-Day Moving averages of $0.0050 and $0.0048 respectively. However, the stock is trading above the 200-Day moving average of $0.0046. The company has a total market capitalization of $70K with 14.99 million outstanding shares. The stock is up 88% over the past 3-month .
