Stocks often rally despite there being no news about the related companies and it is not something that should come as a surprise to investors. On Thursday, it was the Smokefree Innotec Inc (OTCMKTS:SFIO) stock was on the move despite there being no news about the company and ended the day with gains of as much as 25%.
In that sort of a situation, it is perhaps important for investors to figure out if the rally has any fundamental rationale or if it is entirely speculative in nature. It should be noted that there has been no news about Smokefree for nearly two years and the last time any news emerged about the company was back in September 2019.
At the time the company announced that it completed the reverse takeover of the company Betta4U Brands Inc. It was a significant development for the company and at the time Smokefree also announced that it was going to change its business model altogether to get involved in the health and wellness industry. Such a move is an important one for any company. However at the same time it should be noted that it was too long ago to have any effect on the Smokefree stock.