If a company is on the verge of completing a significant acquisition then it is possibly a good idea for investors to consider taking a keener interest in it. The company that you could look into today is Quality Industrial Corp (OTCMKTS:QIND). The company announced yesterday that it expected that its major acquisition in the United Arab Emirates was going to be closed this month.
Trading Data
On Wednesday, QIND stock surged 2.97% to $0.2025 with 119.08K shares, compared to volume of 533.50K shares. The stock moved within a range of $0.1715 – 0.2044 after opening trade at $0.1965.
Quality Industrial Corp. Expects To Close Its First Acquisition in September 2022
However, there were other updates that had been provided by the company as well, which investors could consider looking into. It was noted that back on August 19 this year, Quality Industrial Corp hired the services of a new independent public accounting firm in the form of Pipara& Co LLP.
Pipara was hired by Quality Industrial Corp so that its operations could be more easily aligned with that of its parent company ILUS International. In this regard, it ought to be noted that the appointment of Pipara has resulted in significant advantages for Quality Industrial Corp.
It was announced yesterday that Pipara’s presence in the United Arab Emirates had helped the company bring about a quicker audit process pertaining to its subsidiary that it is going to have in the United Arab Emirates.
Technical Data
QIND stock is trading below the 20-Day and 50-Day Moving averages of $0.26 and $0.33 respectively. However, the stock is trading above the 200-Day moving average of $0.14. The company has a total market capitalization of $20.85 million.
