Among the many stocks that that recorded considerable gains yesterday, the gains recorded by the Eline Entertainment Group (OTCMKTS:EEGI) stock were particularly notable. The reason why it was notable was due to the fact that the handsome 43% gains recorded by the Eline Entertainment stock yesterday was not triggered by any specific news about the company.
As it happens, there has been no news about Eline Entertainment at all for many weeks and the last time any news emerged about the company was back on July 29 this year. However, it should be noted that it was a pretty significant piece of news.
At the time the company announced that it was on the verge becoming compliant with the rules of the OTC Marketplace. It was further announced that the new Chief Executive Officer of the company Josh Egelston was given the much needed access to the OTCIQ.
Not what Egelston had the access, he could start submitting all the necessary filings and financials that were necessary for the company to become complaints with the OTC Markets rules. The CEO noted at the time that Eline Entertainment was looking to make aggressive moves by acquiring relevant entertainment companies after becoming current.