Sometimes stocks may record massive gains despite there being no specific news and in such a situation; it is often a wise move for investors to start tracking the stock closely.
One of the stocks to have experienced such a move is that of Nova LifeStyle Inc (NASDAQ: NVFY). The stock has soared by as high as 165% during premarket trading despite there being no news about the company. It was back in January this year that there was a major development with regards to Nova LifeStyle.
At the time, the company had announced that it is going to launch a Nova HealthLine platform in Malaysia that is going to be subscription-based. The service in question was launched on February 1 this year. At the time, Nova LifeStyle had also pointed out that that it is working on a rewards program for the new service so that it is more appealing to customers and improves their experience.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.