Forwardly (FORW) Goes Up 900% YTD: a Buy Stock?

There have been many stocks that have managed to record massive gains so far this year and one of those is Forwardly Inc (OTC: FORW).

The stock soared by as high as 42% this past Friday and the latest rally took its gains for the year to a staggering 900%. In light of such significant gains, it could be a good idea for investors to perhaps start tracking the stock. Earlier this month, the company made a major announcement and that could have been one of the reasons behind the rally.

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The company’s President and Chief Executive Officer George Sharp announced on February 9 that Forwardly successfully raised as much as $1.5 million in the form of fresh equity funding. Almost the entire amount bar $50,000 was raised through fixed convertible debentures and the deal was apparently closed on January 29 this year. Forwardly had targeted $1 million through the debentures but raised more since they were oversubscribed.

Richard McEntire

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.