In the course of just one week, investors were able to see the market cap of Digagogo Ventures (OTC:DOGO) bulge from $38 million to $46 million. It all started last Monday, when the trading volume surged sharply and caused a huge gap at the open.
Over the last week, DOGO climbed up from $0.4 to $0.7. The amplitude, including the initial price gap, present an opportunity for more than a 1005 gain.
In fact DOGO excited the long investors throughout most of the last session as well. The stock reached an intraday high of $0.82 while most of the session it was keeping a value around $0.75 per share. However, in the last hour of the sesion, a huge amount of shares were dumped on the market making the share value crash down to $0.55.
During this tense trading session a total of $2.5 million shares changed hands which makes it the highest trading volume in the company’s short trading history under this symbol. According to FINRA, 855 thousand shares were part of the short volume, which is 355 of the total volume. [BANNER]
The last news from the company is from Frdiay, when DOGO announced the closing of an asset purchase agreement with Banyan Tech ventures. According to the press release, DOGO had acquired all of Banyan assets in exchange for $250 thousand cash and 500 thousand shares of DOGO common stock.
Investors will have to bear this in mind because once these shares hit the market they can have a strong influence on the share price. For now, it seems the correction of the up-move has started and it is important where DOGO will establish its new support.
