Aluf Holdings Inc. (OTCMKTS:AHIX) Stock Soars 55% After Key Shareholder Updates
Aluf Holdings Inc. (OTCMKTS:AHIX) soared 55% after the company gave an update to shareholders regarding its previously signed non-binding Letter of Intent to purchase a privately held technology management and security company.
Market Stats
On Tuesday, AHIX stock surged 54.91% at $0.0900 with more than 37k shares, compared to its average volume of 31K shares. The stock has moved within a range of $0.0850 – 0.1000 after opening trading at $0.0950.
Key Reviews
The company’s leadership will carry a site visit of TC’s satellite facilities and headquarters in the first week of December as part of the final due diligence steps before closing the acquisition. However, there are no guarantees that the due diligence process will succeed or the company will close the transaction.
Once the company finalizes due diligence, the company will sign a definitive agreement with an original closing date set for December 31, 2021, likely to be extended to Q1 2022. Notably, the company’s business model presents an exciting chance to meet the intelligent Community’s challenges by addressing the demand for program and project management plus technical resource assistance. In addition, the founder of the company has over 30 years of experience in the intelligence sector and has created long-term relations in the Intelligence Community. Therefore, AHIX is worth watching.
Traders Corner
AHIX stock is trading below the 20-Day and 50-Day Moving averages of $0.0860 and $0.1064 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1603. The stock is down 20% in the past month.
