Stocks often record significant gains despite there being no news about the company but that doesn’t mean that investors should not consider tracking the stock. One such stock is that of United States-based oil and gas company Bayport International Holdings Inc (OTС: BAYP).
On Monday, the stock soared considerably and ended up recording gains of as cosmic as 195%. Although it is true that there was no news about the Bayport, it is important to note that the stock recorded high trading volumes and as many as 195,000 shares changed hands.
In this situation, investors could consider taking a look at the nature of the company’s business. Bayport is involved in acquiring and mining properties for oil and gas in the United States. In addition to that, the company also does the same in the case of mining properties and is involved in the metals space as well. Considering the magnitude of the gains, it might be a good idea for investors to keep the stock on their watch lists.