There were a number of stocks which had managed to make a notable move on Tuesday and one of those was the ADM Endeavors Inc (OTCMKTS:ADMQ) stock, which clocked gains of as much as 4%. As it happens, the company was in the news yesterday as well and had announced that it had gone into a paid collaboration with the expert Troy Mingo.
On Tuesday, ADMQ stock jumped 3.77% to $0.0633 with 75.79K shares, compared to volume of 40.89K shares. The stock moved within a range of $0.0515 – 0.0690 after opening trade at $0.0515.
ADM Endeavors, Inc. (OTCQB: ADMQ) Engages Troy Mingo to Help With Expansion Plans
Mingo is an expert from the Ad Specialty sector and holds experience that spans more than two decades. Additionally, he has also built up extensive contacts and that may have been one of the major factor behind the collaboration as well.
Mingo is going to be responsible for discovering entities which ADM Endeavors may acquire. The Chief Executive Officer of the company Marc Johnson spoke about the development as well. He noted that the company was on the verge of completing its new building and hence, it is soon going to be in a position of making new acquisitions.
However, he added that new acquisitions cannot be done quickly and takes time. Mingo holds the experience as well as extensive contacts which may make it possible for identifying the suitable strategic acquisitions.
ADM Endeavors CEO Marc Johnson said, “With our new building ever closer we will soon be in the position to take on new acquisitions. These types of moves do not happen overnight and are not always easy to find. Troy has the experience and a great network to help us grow through strategic acquisitions.”
ADMQ stock is trading above the 20-Day and 50-Day Moving averages of $0.0577 and $0.0473 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0612. The company has a total market capitalization of $9.75 million.