It was a great day in the markets for investors in Pacific Green Technologies Inc (OTCMKTS:PGTK) yesterday as the company came into focus among investors in a big way following a key announcement and its stock ended up with gains of as much as 22% for the day.
On Wednesday, PGTK stock rose 22.31% to $0.7950 with more than 1.14K shares, compared to its average volume of 4.27K shares. The stock moved within a range of $0.7500 – 0.7950 after opening trade at $0.7500.
Alex Shead Appointed as an Independent Director of Pacific Green Technologies, Inc.
The company came into focus yesterday after it announced that it had appointed a new independent director in the form of Alexander Shead. The appointment had gone into effect back on October 16, 2022. In this regard, it is also necessary to note that Shead had served as an executive director at Pacific Green Technologies in the past from July of 2016 through to October of 2020.
The excitement among investors with regards to the appointment can be gauged if one takes a look at Shead’s credentials as an executive. He has served as the Chairman of Lockton Pacific since 2012. Lockton Pacific is actually a subsidiary unit of the private company Lockton Companies, which is currently the biggest private independent insurance brokerage company in the world. Overall, it ranks at number 8 in global rankings. In addition to that, Shead also holds the position of the Responsible Manager at the Australian Securities and Investments Commission.
PGTK stock is trading below the 20-Day and 50-Day Moving averages of $0.81 and $0.87 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.89. The company has a total market capitalization of $37.