This morning more and more investors are going to look into stocks that may have recorded significant gains last Friday. One of the stocks that could well be on the radars of many investors this morning is the Black Dragon Resource Companies Inc (OTCMKTS:BDGR) stock. The stock had been in the middle of a rollicking rally last Friday and had ended up with gains of as much as 50% amidst heavy interest.
Trading Data
On Friday, BDGR stock soared 50% to $0.0002 with more than 4.64 million shares, compared to a volume of 38.50 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trade at $0.0002.
About The Company
Black Dragon Resource is involved in distributing rare art by way of blockchain-related technologies and non-fungible tokens. Black Dragon Resource currently holds the ownership as well as distribution rights to rare works of art that date back to the renaissance period. In the past, the company had been known as Black Dragon Resource Inc but it changed its name to the current on in December 2004. The company had actually been established back in 1998 and is based out of Cheyenne in Wyoming.
Black Dragon (BDGR) Business Plan Development and Shareholders Updates.
In order to understand the reason behind the rally in the Black Dragon Resource stock on Friday, it could be a good idea for investors to consider taking a look at the update that was shared by the company on Friday. The company provided a glimpse into its business plan rollout and the way in which it was going to implement it. The company announced that it moved into the energy sector and that is where its future is going to be in.
More importantly, Black Dragon announced that it was going to expand outside of the United States in a big way since drilling is heavily restricted in the country. On that note, the company announced that its negotiations have proceeded well in Moldavia and it was also noted that it had managed to create strong relationships in the region as well.
On the other hand, Black Dragon also announced that it had managed to identify a wide range of locations and out of those, drilling activities have commenced at one of those location. Clients based out of Europe have already shown considerable interest and the company claimed that things were looking fairly positive. Hence, it is perhaps not a surprise that the stock was subject to considerable interest from investors on Friday and it is going to be interesting to see if the stock can manage to add to its gains today or not.
Key Quote
“Black Dragon Resource Companies and Curios Corp signed a distribution contract that will expand the NFT’s distribution and will allow BDGR to leverage the Curios NFT Marketplace to establish a venue for all Black Dragon Art Pieces and Inventories through the Legacy Art Group’s License.” Black Dragon CTO/JS
Black Dragon NFT’s (BDGR) signed a new distribution deal
In this situation, it could also be a good idea for investors to consider taking a look at the development from back on June 17. At the time, the company announced that it had been successful in inking a distribution deal with the company Curios Corporation. As per the terms of the deal signed between the two companies, it is going to lead to an expansion of the NFTs that Black Dragon is going to be able to distribute. It could be a deal that could lead to considerably more business for the company and hence, it is something that investors could do well to keep in mind.
Technical Data
BDGR stock is trading below the 20-Day and 50-Day Moving averages of $0.0001 and $0.0001 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0002. The company has a total market capitalization of $2.20 million. The stock is down 50% over the past 6-month.
