If a stock makes a major move on a single day then it is almost a certainty that it would come into focus among investors on the next trading day and hence, it may be a good time for investors to consider taking a look at the XCPCNL Business Services Corporation (OTCMKTS:XCPL) stock this morning.
The stock had been in the middle of a major rally this past Friday and had ended up with gains of as much as 100% amidst heavy interest.
Trading Data
On Friday, XCPL stock soared 10% to $0.0100 with more than 85.61 million shares, compared to a volume of 2.87 million shares. The stock moved within a range of $0.0092 – 0.0209 after opening trade at $0.0118.
About The Company
XCPCNL Business Services Corporation operates in the business-to-business space and is responsible for supplying compatible printer ribbons to its clients. However, that is not all. XCPCNL Business Services Corporation is also involved in providing remanufactured inkjet and laser cartridges to its clients as well. The company had been established back in 2005 and is based out of Laguna Woods in the state of California.
XCPCNL Business Services Announces Reverse Merger with Centiment Capital Holdings
Now that you have a fair idea about the company, it is now time to take a look at the recent developments at XCPCNL Business Services Corporationwhich may have led to the remarkable rally last Friday. The company announced on Friday that it had managed to tie up a deal with regards to a reverse merger with the firm Centiment Capital Holdings.
Centiment is a machine learning company that is best known for having been the first of its kindneurotech powered and anti-bias driven entity. The two companies have decided to address queries with regards to their future together in order to provide shareholders of both companies with as much transparency as possible. It should be noted that for the reverse merger to take effect, there are going to be considerable changes and it seems that investors are happy about the particular news.
A completely new management infrastructure is going to be put in place and Micah Brown and Tim Matthews are both going to serve as co-Chief Executive Officers.
However, they are going to continue in those positions up until the company is able to hire a tech-experienced CEO for the position. The assets that belong to XCPCNL Business Services Corporation are going to be merged with the assets that belong to Centiment Capital. In addition to that, the new entity is also going to have a new name and the stock will also bear a new ticker symbol eventually.
In this context, it is perhaps important to point out that as per the agreement between the two parties, there is not going to be any reverse split of the company’s stock. That may have come as a source of considerable optimism for the investors.
Such a move is going to help the current shareholders in protecting the value of their holdings. As a matter of fact, once the whole transaction is completed, it may even lead to a boost in valuation. It may be a good idea for investors to consider adding the XCPCNL Business Services Corporation stock to your watch lists today.
Technical Data
XCPL stock is trading above the 20-Day and 50-Day Moving averages of $0.0044 and $0.0043 respectively. However, the stock is trading below the 200-Day moving average of $0.0293. The company has a total market capitalization of $1.20 million. The stock is down 44% over the past 6 months.
