AVC’s business in communications goes not really well according to financial reports and acquiring Kandy Communications may increase the revenue and eventually earnings might be lively. This news made many investors trade more than 30 million NASDAQ: AVCT shares. As a result, the stock rides above 100% change.
The penny stock quickly gets short term buyers who are dominant in numbers among the traders. However, there is a risk in AVCT in the long run since earnings do not appear in financial reports.
This recent announcement could lift the stock but tomorrow AVCT may experience steep fall to return back to initial positions, somewhere at $5.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.