Sometimes companies make certain announcements that can make their stocks rocket and that is what happened with the MasterBeat Corporation (OTC: MSTO) stock on Tuesday.
The company is involved in acquiring business in the automobile, real estate, and precious metals sectors among others. Yesterday, it announced that JTEC Autoworld, an entity it operates with Epicor, is going to include eBay as well as Amazon in its distribution, sales, and marketing initiatives. It is a major announcement from the company considering the sheer growth in e-commerce in recent times.
The news was welcomed by investors as well and on Tuesday, the stock soared by as much as 400% as investors flocked to the stock in a big way. JTEC is an online platform that deals in automotive and the incorporation of Amazon and eBay could prove to be an inspired step from MasterBeat. It now remains to be seen if the stock can gain further through the rest of the week.