Majic Wheels Corp (MJWL) Stock Continues to Hit New High: What Next?
Majic Wheels Corp (OTCMKTS:MJWL), which is involved in the financial technology and software development space, was on the radars of many investors this past Friday and ended up clocking gains of as much as 11%.
While the gains made by the stock are attractive, it should also be noted that there was no news about the company that might have sent the shares flying to such a degree. The company is looking to grow through acquisitions and mergers in the disruptive industries. At this point in time, the stock trades on the over the counter market under the symbol MJWL.
The last major news about the company had emerged in the early days of this month when Majic Wheels announced that it had been given OTCIQ Access after it had successfully completed all the necessary verifications. David Chong, the Chief Executive Officer of the company, stated at the time that the issue of OTCIQ Access had been one of the most frequently asked questions from shareholders.
He went on to point out that Majic Wheels was working on the process of becoming current on the OTC Markets. There are a few steps that still remain and it could be completed in the upcoming weeks.
Market Reaction:
On Friday, MJWL stock jumped 11% to $0.1401 with more than 27.65 million shares, compared to its average volume of 56.82 million shares. The stock has moved within a range of $0.1220 – 0.1420 after opening the trade at $0.1280 Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.1420.
