NOHO (DRNK) Stock Almost Tripled On No News: Will it Sustain?

One of the stocks to have made a major move on Wednesday was that of NOHO Inc (OTC: DRNK). Yesterday the stock soared by as big as 183% as investors piled on to it in a big way.

While the gains made by the stock were certainly eye-catching, it should be noted that there was no news regarding NOHO that could have resulted in such gains. In this sort of situation, it is almost always a good idea to look into events from the recent past and that takes us to an announcement from the company last month.

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Back on January 29, NOHO announced that signed an agreement with Sibannac Inc. It is an asset purchase agreement by way of which NOHO’s intellectual property is going to be sold over to Sibannac. At the time the company announced that the two parties are in talks with regards to the terms of the transaction as well as the assets that are going to be sold.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life