On Tuesday there were a number of stocks that had managed to clock substantial gains and thereby came into focus among investors in a big way. It is quite likely that many of those stocks are going to be in focus among investors this morning and it is important for investors to be aware of some of those stocks before the opening of the markets.
One of the stocks which may be on the radars of many investors this morning is the United Resource Holdings Group Inc (OTCMKTS:URHG) stock. The stock was in considerable focus yesterday and amidst heavy interest, it ended up with gains of as much as 37% for the day. Before considering any stock, it is important for investors to always do their research and know a bit more about the company before making any decision one way or another.
Trading Data
On Tuesday, URHG stock soared 37.14% to $0.0576 with more than 201K shares traded, compared to a volume of 24K shares. The stock moved within a range of $0.0576 – 0.0712 after opening trading at $0.0602.
About The Company
United Resource Holdings Group is involved in milling, mining, and exploration work in the United States. However, that is not all. The company is also heavily involved in taking up equity positions in small to mid-sized companies. United Resource Holdings Group uses its position in those companies to accelerate the development of the businesses.
The company had been established back in 2004 and is headquartered in Henderson Nevada. Now that you have a fair idea about the nature of United Resource Holdings Group as a business operation, it may be a good time now to take a look at some of the recent developments in order to make your mind up about the stock.
URHG Announces Change of Company Control and New Management
Yesterday, the company made a major new announcement with regards to significant new investment that it had managed to attract. United Resource Holdings Group announced that a range of investors, led by Paladin Equity Partners, had managed to pick up majority control of the company by purchasing as many as 4.5 million units of the Preferred A stock. The transaction was completed after long drawn-out negotiations. In addition to that, all the parties had been on due diligence regarding the transaction for many months. Once the parties reached an agreement, it was approved by both United Resource Holdings Group and Paladin Equity Partners.
After the completion of the transaction, United Resource Holdings Group installed a new management team and it went into effect yesterday. Yesterday, the company announced that Bob Shuey was going to be the new Chief Executive Officer and Chairman of the Board at United Resource Holdings Group.
Shuey is a highly experienced executive and holds an experience of more than four decades as far as nano market public companies are concerned. In addition to that, his Corporate Finance and Investment Banking experience stretches over a period of more than 22 years. The previous president of United Resource Holdings Group, Gerald Condon, resigned from his position and then immediately joined the board in the capacity of a director. It is going to be interesting to see how the market reacts to all these changes at the company in the coming days.
Technical Data
URHG stock is trading below the 20-Day and 50-Day Moving averages of $0.0581 and $0.0597 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0687. The company has a total market capitalization of $2.23 million. The stock is down 24% over the past month.
