Why Is Axis Technologies Group Inc (OTCMKTS:AXTG) Stock Up 60% In a Week?

Investors almost always need to be on the lookout for stocks which may have recorded significant gains over the course of a reasonable period of time. A steady rally over several days may often be an indication of further gains and hence, it may often be a good idea for investors to consider keeping an eye on such stocks. One of the stocks that fulfill the criteria at this point in time is that of Axis Technologies Group Inc (OTCMKTS:AXTG). The stock continued on its upward move this past Friday and went up by as much as 14% amidst heavy interest. The rally in the stock on Friday took the gains made by it to as much as 60% over the course of the past week.

Trading Data

On Friday, AXTG stock gained 14.29% to $0.0080 with 1.69 million shares, compared to its average volume 907K shares. The stock moved within a range of $0.0070 – 0.0105 after opening trade at $0.0070.

About The Company

As a matter of fact, Axis Technologies Group was in fact in the news back on Friday and had made a major new announcement that led to the rally in the stock. The Chief Executive Officer and President of the company Dr William Ten announced on Friday that Mru Patel had been appointed as the non-executive director who is going to be in charge of new divisions.

Two of the new divisions are going to be related to carbon-credit projects and the other one is going to be related to digital banking. Axis Technologies Group is currently looking to make a big move into the ESG (environmental, and social governance) side of its operations and Patel is going to be focused in a big way on that part of the business. In addition to that, Patel will also be in charge of the digital banking and wealth creation initiatives from Axis Technologies Group.

Mru Patel Appointed Non-Executive Director of Axis Technologies Group, Inc.

In this situation, it could also be a good move from investors to consider taking a look at the credentials of Patel and then make their minds up about the appointment. Patel is seen as a visionary in the world of business and holds considerable experience as well as skill in the field of information technology.

It should also be noted that he is a serial entrepreneur as well and has won awards as a public speaker as well. It can be said that it is a high profile appointment from Axis Technologies Group and one that could have a major long term impact on the company’s aims over the long term.

TiENGOLD Partners with TiENWORLD, a subsidiary of AXIS TECHNOLOGIES GROUP, INC. (OTC Pink: AXTG) to Issue World’s First ESG-Compliant Gold NFTs, with “Green Gold” Capability

One of the major factor behind the rally that has been seen in the Axis Technologies Group stock over the past week could well be related to a key development from back on July 28 with regards to its fully owned subsidiary unit TIENWORLD.

At the time, it had been announced that TIENWORLD was going to go into a partnership with TIENGOLD for the purpose of creating a gold mine asset digitization platform that is going to ESG compliant. It is a project that could well come under the purview of Patel and it is a project that resulted in considerable excitement among investors.

Technical Data

AXTG stock is trading above the 20-Day and 50-Day Moving averages of $0.0059 and $0.0071 respectively. However, the stock is trading below the 200-Day moving average of $0.0206. The company has a total market capitalization of $1.96 million. The stock is up 60% over the past 3-month.      .