It is often considered a good idea for investors to look for stocks that have managed to record considerable gains over an extended period of time. This brings us to the subject of the Iqstel Inc (OTC: IQST) stock which has recorded significant gains since the middle of December last year.
During that period, the iQSTEL stock has rallied by as high as 400% and the momentum continued on Wednesday as it added another 19%. The latest rally in the stock seems to have been triggered by an announcement from the company on Tuesday.
On Tuesday, iQSTEL announced that it has signed a letter of intent indicating that it is going to manufacture a proprietary electric battery. The agreement in question was signed between MODUS GROUP and IoT Labs, which is a technology division subsidiary of iQSTEL. It goes without saying that it is a key development for the company due to the rising importance of electric batteries across several industries. It remains to be seen if the stock can continue to add to its gains today.