Why Is NuvusGro Corp (OTCMKTS:NUVG) Stock Up 225% In a Week

There were a number of stocks that started the week on a strong footing and one of those was the HempTech Corporation stock. The stock was in sharp focus among investors on Monday and ended the day with gains of as much as 8% as a consequence. In light of the gains made by the stock, it is likely that the HempTech Corporation, also known as NuvusGro Corp (OTCMKTS:NUVG) stock is going to come into focus among investors today.

Hence, it could be a good move for investors to consider checking the company a bit more thoroughly. HempTech Corporation is a technology company that is involved in providing Controlled Environment Agriculture products to cultivators who are involved in the cannabis and hemp industries in the United States.

Trading Data

On Monday, NUVG stock gained 8.33% to $0.0650 with 639K shares, compared to its average volume of 345K shares. The stock moved within a range of $0.0600 – 0.1000 after opening trade at $0.0600.

About NuvusGro Corp

The company provides a wide range of such solutions and has emerged as a major player in its niche. It is based out of St Petersburg in Florida. As it happens, the company was in fact in the news yesterday after fresh news emerged with regards to business transactions with Pro Music Rights Inc.

Pro Music Rights, Inc., one of the world’s largest music licensing companies, announces that it is closing on the agreement to go public via a Reverse Merger with Nuvus Gro Corp (OTC: NUVG)

Yesterday, Pro Music Rights announced that it was on the verge of closing its reverse merger transaction with NuvusGro Corp.

It was a major new announcement and caused considerable excitement among investors, which was possibly the reason why the stock flew yesterday. The company further announced that it was going to provide further information with regards to the transaction by way of press releases and regulatory filings in the future.

In this situation, it could also be a good idea to take a look at some of the more recent development with regard to NuvusGro Corp.

Nuvus Gro Corp announces Name Change to Music Licensing, Inc.

The company had made a major new announcement back on July 29 when it put it out that it was going to change its name to Music Licensing Inc. The decision to change its name had been made in light of the fact that the company was on the verge of acquiring Pro Music Rights Inc. Pro Music Rights is one of the biggest music licensing companies in the world. However, it should be noted that the name change has not been affected yet and the company is going to confirm the same in subsequent press releases as well as regulatory filings.

Pro Music Rights, Inc. announces Jake P. Noch as new CEO of Nuvus Gro Corp

However, there was one development that took place back on July 21 that investors may consider taking into account when they analyze the NuvusGro Corp stock. On that day Pro Music Rights Inc announced that it had made Jake P Nochthe Chief Executive Officer of NuvusGro Corp.

However, that was not all. In addition to that, the company also announced that it had made him the Chairman of the Board of Directors at NuvusGro Corp, Secretary of the company, and also the Chief Financial Officer. It is going to be interesting to see if the NuvusGro Corp stock manages to get traction from investors over the course of the coming days or not.

Technical Data

NUVG stock is trading above the 20-Day and 50-Day Moving averages of $0.0800 and $0.0470 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0256. The company has a total market capitalization of $3.90 million. The stock is up 400% over the past 3-month.