PHI Group (PHIL) Soars 500% Quickly: What’s Going On?

There were some stocks that managed to record remarkable gains on Monday despite there being no relevant news about the company in question. One such stock was that of PHI Group, Inc. (OTC: PHIL), which has emerged as one of the major gainers without any development regarding its business.

The trading volumes on the stock have been considerably high over the course of the past week and during that period the stock has managed to soar by as high as 500%.

Related:  Canaan (CAN) Makes a Big Move This Year on Crypto Run-Up

If an investor is interested in the stock, then it is important to get a better idea about PHI Group’s business. The company is involved in the mergers and acquisitions space. In addition to that PHI is also involved in investments in certain specific industries which may result in considerable upside in the future. On the other hand, the company also has a fully owned subsidiary named PHILUX Capital Advisors which provides consulting services in the mergers and acquisitions space.

Related:  Blue Sphere (BLSP) Continues to Move Higher: Are You Bullish?

Richard McEntire

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.