Penny stocks often attract their fair share of speculators and it is perhaps no different with regards to the PHI Group Inc (OTC: PHIL) stock. However, over the course of the recent trading sessions, the stock has traded within a range.
Prior to the latest trading sessions, the stock had been in the middle of a strong run and had managed to record gains after going through the support levels. The reason behind those gains is also understandable.
The company’s management has been working hard with regard to the submission of files to the OTC Markets in order to make PHI Group ‘pink current’. On the other hand, PHI Group also engaged the services of private equity companies in order to grow the company. Through the assistance of those private equity companies, PHI Group managed to acquire a number of cash flow positive firms. These acquisitions could add to the company’s revenues and bottom lines considerably.
Finance and Entertainment Reporter
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