A stock that is almost certainly going to come into focus among investors this morning is that of Imperalis Holding Corp (OTCMKTS:IMHC), which experienced considerable action on Monday and ended the day with staggering gains of as much as 275%.
Market Action
On Monday, IMHC stock soared 275% to 0.27 with 1.78 million shares, compared to its average volume of 51K shares. The stock moved within a range of $0.2050 – 0.5100 after opening trade at $0.2350.
BitNile Holdings’ Subsidiary, TurnOnGreen, to Be Acquired by BitNile Holdings’ Subsidiary, Imperalis Holding Corp. (OTC Pink: IMHC), Creating a Publicly Traded EV Charging and Power Solutions Company
In light of such massive gains, it might be a good move from investors to consider taking a look at the development from yesterday that led to the rally. Yesterday it emerged that the diversified holding company BitNile Holdings and its subsidiary unit TurnOnGreen, an electric vehicle charging solutions entity, signed up for a securities purchase agreement with Imperalis Holding Corp.
It was a major new announcement from the company and one that might have led to considerable positivity among investors with regards to the stock. Imperalis Holding Corp is a subsidiary of BitNile as well and more importantly it is publicly traded as well.
Once the transaction between the parties are completed, TurnOnGreen is going to operate as a subsidiary unit of Imperalis Holding Corp. The transaction may be a bit complex but it seems that investors are quite excited about its prospect. It remain to be seen if the Imperalis stock manages to add to its gains today.
Traders Note
IMHC stock is trading above the 20-Day and 50-Day Moving averages of $0.0848 and $0.0958 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 87.
