If you are currently looking into stocks that made strong gains on Wednesday, then the Cunningham Natural Resources Corp. (OTC:CNRC) stock could be the one to watch. Following a key development, the stock ended up with gains of 40% yesterday.
The Announcement
On Wednesday, the company announced that Worldwide Diversified Holdings Inc., its portfolio company, had submitted a filing to be listed on the OTC Markets. It was revealed that Worldwide Diversified had made the filing so as to list its common stock on the OTC markets.
It could be a game changer for Worldwide and for Cunningham Natural Resources by extension, since it would provide its common stock visibility to a larger base of investors. More importantly, the listing would also help the company raise higher amounts of capital and thereby support its current projects and programs.
Further Information
In the news release, Worldwide expressed its excitement for having hit a critical milestone in its business operations. It was also noted that the raising of fresh capital would enable the company to expand its operations to a significant degree. Other than that, the capital would also help the company with its acquisition strategy. It was stated that Worldwide was on track to complete certain acquisitions in the first quarter of 2025.
Key Quote
“We are thrilled to achieve this important milestone,” said Frank Kristan, Worldwide CEO. “Listing on the OTC markets will open new opportunities for us to grow and expand our operations. We look forward to engaging with our new investors and continuing to deliver value to our shareholders.”
| P/E Ratio | 0.9300 |
| PEG Ratio | – |
| Price to Book | 0.18 |
| Price to Cash Flow | 0.480742 |
| Price to Free Cash Flow | 0.480742 |
| Total Sales (TTM) | 18.97 M |
| Revenue per Share (TTM) | 0.05 |
| Shares Outstanding | 132.130 M |
| Share Float (%) | 114.66 M |
| % Held by Institutions | – |
