Innerscope Hearing Technologies (INND) Rockets On No News: Is It Sustainable?

Things do not always work out in the way that investors expect. For instance, stocks may sometimes record significant gains within a short period of time despite there being no related news. That is what happened with the Innerscope Hearing Technologies Inc (OTC: INND) stock on Wednesday.

The company, which is involved with the hearing aid industry, saw its stock rally strongly on Wednesday. The Innerscope stock soared by as high as 81% yesterday and on top of that, the trading volumes were also high.

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There was no news about the company that could have triggered this sort of rally. The last significant news with regards to the company emerged in February last year when Innerscope announced that it appointed DigiMax Global Solutions for the purpose of raising money through private placements. The company had decided on a target of raising as big as $15 million through those offerings. Investors could do well to keep an eye on this stock over the coming days.

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Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.