ILus International (OTC: ILUS) stock emerged as one of the notable gainers on Wednesday and much of the gains made by the stock are linked to recent development.
The stock rallied by as much as 83% yesterday as investors piled on to the stock in a big way. ILUS International is involved in the mergers and acquisitions face and deals primarily with technology companies. Recently, the company successfully completed the takeover of FB Technologies Global Inc.
It is a significant development for the company considering the lines of business in which FB Technologies is involved. FB Technologies is regarded as one of the better-known makers of Technology & Fire & Rescue vehicles. This acquisition could give ILUS International a foothold in the rapidly growing electric vehicle industry and hence, the excitement among investors is understandable. Considering the gains made by the stock yesterday, it might be a good idea for investors to keep an eye on the ILUS stock.