Sysorex Inc (OTC: SYSX) was the most active penny stock gainer on Wednesday’s trading session as the stock witnessed a huge price range following a piece of major news.
Shares of SYSX closed higher by 609% at $7.55. One should note that the stock closed well off a session high of $15. More than 36.80 million shares exchanged hands for the session. So what made investors so excited yesterday? The company stated a reverse triangular merger with TTM Digital Assets & Technologies, which is a data center owner and operator and is now the largest U.S. publicly traded Ethereum mining company.
Following this transaction, now all the TTM’s business will be under Sysorex as the first Ethereum company trading in the U.S. public markets. After Wednesday’s big swings, traders would continue to watch out the stock if it sees any follow-up rally. But, one should trade the stock carefully as we can never guess where the stock can move going forward.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.