SGOCO Group (NASDAQ:SGOC) Stock Soars 450% in a Month: What to Expect Now?
The Chinese company SGOCO Group (NASDAQ:SGOC) has attracted a lot of attention from investors in recent weeks and over the course of the past month, the company’s stock has clocked gains of 450%.
In light of such massive gains, it might be a good idea for investors to take a closer look at the rally. It appears that the SGOCO stock has entered the realm of meme stocks in recent times and that can best be gauged from the massive 175% rally in the stock back on Wednesday. There has been no news about the company in recent days either and it seems that the actions of retail investors are the only reason behind the surge in the SGOCO stock.
The meme stock phenomenon has been a historic new trend in which the sheer number of retail stock market investors has enabled them to move the market when it comes to certain stocks. That being said, it should be noted that analysts are now studying these trends and sometimes big money from institutions have got involved as well. Hence, there are experts who believed that the Chinese conglomerate stock has emerged as a battleground at this point. Investors could consider keeping track of the latest moves in the SGOCO stock.
Market Reaction:
As of 11:01, SGOC stock fell 2.80% at $10.85 with more than 20.22 million shares, compared to its average volume of 6.55 million shares. The stock has moved within a range of $10.35 – 14.42 after opening the trade at $13.91. Over the past 52-week, the stock has been trading within a range of $0.77 – 29.00.
