Almost every day there are stocks which record gains without there being any news about the companies in question. However, when the magnitude of the gains recorded in a day is considerable then it is perhaps a good idea for investors to take a closer look at the company.
The science based cannabis technology firm MyDx Inc (OTCMKTS:MYDX) has been largely dormant in terms of news for close to two years but its stock emerged as a major gainers yesterday and ended the day with gains of as much as 67%.
Since there was no news about the company it might be a good move to take a look at the last news item that had emerged about the company. Back in October 2019, the company released a letter to its shareholders which was primarily concerned with the sort of journey that MyDx had at the time.
The letter, which was addressed by the Chairman and the then interim Chief Executive Officer of the company, Daniel Yazbeck, enumerated many of the plans that MyDx had put in place. However, it is also highly unlikely that it had any bearing in the rally experienced in the stock on Thursday and hence, it might be a good move to keep an eye on the news wires regarding any new developments.