It is often seen that stocks go up to a significant degree without any news about the company in question and although it may be a surprising turn of events, it is not uncommon.
The Cygnus eTransaction Group Inc (OTCMKTS:CYGT) stock had such a move yesterday, as it rallied by as much as 490% on the back of the high volume. While there was no news about the company, considering the sheer magnitude of the gains it might be a good idea for investors to take a closer look at the company’s business.
The company’s main business is in transactions, as the name suggests. Cygnus is involved in the processing sales and also for the payments necessary for wholesale as well as retail sales made by its clients. On top of that, the company is also involved in event management, reservation, and ticketing. At this point, investors could consider keeping an eye on the stock and also on any news with regards to the company.
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.