Cereplast Inc (OTCMKTS:HGYN) Stock Extends Rally: Here is Why

Last week, the Cereplast Inc (OTCMKTS:HGYN) stock had emerged as one of the major gainers despite there being no news about the company at all. Last Friday, the stock experienced heavy action and went up by 38%. The gains made on Friday took the gains for the whole week to as much as 59%.

In light of such handsome gains, it might be a good move from investors to take a closer look at Cereplast. It was back in 2001 that the firm had been incorporated with the name Biocorp North America in the state of Nevada. However,  in 2005, the company changed its name to Cereplast.

The company is involved with the commercialisation of bio based resins. However, at the same time, it is necessary to note that Cereplast has been fairly dormant for many years now. As a matter of fact, it was in April 2013 that the company had filed its financial results for the years of 2011 and 2012. Since then there has been no filings from the company and it appears that the rally in the Cereplast stock was entirely speculative in nature. Investors could keep an eye on the stock today and see if it can continue with the same momentum.