Sometimes massive rallies in stocks without any attendant news about the companies in question can be ignored if it happens on a single day but when it continues for a week then it might be a good idea to take a closer look.
The EXLA Resources Inc (OTCMKTS:EXLA) stock continued its remarkable rally yesterday and soared by as much as 65%, which took its gains for the past week to a remarkable 145%. In addition to that, it is perhaps also necessary to point out that the trading volumes in the stock have also gone through the roof during that time.
In the absence of any specific news about the company, it is perhaps a better idea to take a look at EXLA Resources’ business. The company is involved in acquiring, exploring and developing mining properties.
Most of the properties it gets involved with are mainly known for producing iron, rare earth minerals, gold, copper and silver among others. In this context, it is perhaps also necessary to remember that in the past it had been known as the Helmer Directional Drilling Corp but last month, it changed its name to EXLA Resources Inc.