Last Friday, the GNCC Capital Inc (OTCMKTS:GNCP) stock was one of the biggest movers in the market and ended the day with gains of as much as 50% as investors piled on to it in a big way.
Market Reaction
On Friday, GNCP stock moved up 50% to $0.0002 with more than 34.51 million shares, compared to its average volume of 132.99 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trade at $0.0002.
Key Details
The gains in the stock may have come about thanks to the announcement from the company on April 22 with regards to the announcement about the acknowledgement of the large number of emails that GNCC had received from its shareholders. The company noted that there are a number of issues regarding which the shareholders are very keen to receive updates.
One of the things about which the investors are particularly keen is the exploration strategy with regards to Silverpeak, its recent acquisition. The completion of the GNCC Capital corporate website is another issue that investors are interested in.
GNCC Capital noted that the directors of the company were working on the preparation of an update so that the issues could be addressed. The announcement came as a big boost to the stock and investors soon sent it soaring on Friday. It will be interesting to see if the stock can actually manage to add to its gains today.
Traders Review
GNCP stock is trading below 20-Day and 50-Day Moving averages of $0.0001 and $0.0001 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0002.
