Since July this year there has been no news at all about the Nevada based Energy 1 Corporation (OTCMKTS:EGOC) but on Tuesday, the company’s stock was on the move and managed to end the day with gains of as much as 12% amidst heavy interest.
Market Reaction
On Tuesday, EGOC stock ended higher by 4.12% to $0.0139 with more than 1.93 million shares, compared to its average volume of 2.68 million shares. The stock has moved within a range of $0.0112 – 0.0159 after opening trade at $0.0159.
Recent News
In the absence of an specific news about the company, it may often be difficult for investors to decided on a course of action. However, having a look at events from the past may give a fair idea. Back on July 16 this year, it had emerged that Energy 1 had been acquired in its entirety by the Shanghai based Shanghai Yicheng Culture Communication Co Ltd.
It goes without saying that it was a significant development and on top of that, there was a complete reorganisation of the Energy 1 board as well. However, since then the company had fallen off the radar somewhat among investors. Now that the Energy 1 stock is making waves again, it may be a good idea for investors to consider putting the stock in their watch lists once again. It now remains to be seen if the Energy 1 stock can add to its gains this morning.
Traders Review
EGOC stock is trading below 20-Day and 50-Day Moving averages of $0.0150 and $0.0158 respectively. However, the stock is trading above the 200-Day moving average of $0.0116. The stock is down 43% over the past month.
