Digagogo Ventures Corp (OTC:DOGO) opened the session at $0.58, which is slightly higher then the previous close. In the first hours of the session, DOGO seems determined to continue the ascension form yesterday when the stock jumped 105% on a huge trading volume.
In the last session the number of DOGO shares traded went over 2 million, which turns into nearly $1 million dollar volume given the present share price. The stock started the day with a huge gap at $0.45 and during the day reached an intraday high at $0.75.
In fact, DOGO has made an impressive jump in the last couple of days. Last Monday, the stock hit a bottom at $0.08, but managed to rebound and in the days that followed delivered a huge gain opportunity for market speculators. The amplitude between the bottom and the current share price is more than 600%. [BANNER]
One of the probable reasons for the stock surge could have been the series of press releases which came out this month. Through these publications it became clear that DOGO:
- had completed the acquisition of the DogoSearch software from Blackswan Inventions Inc.
- had engaged Advanced Creative Media to develop video marketing material.
- Had relocated its corporate headquarters to Detroit, Michigan.
Apparently, the market got impressed by the issued news and as a result the increased buying pressure followed.
According to the OTC Markets, DOGO has only 85 million shares outstanding, which may be one of the factors that have provoked such a sharp appreciation of the shares’ price as presumably the public float may be even lower than the outstanding shares. However, it is still possible that the market requires from DOGO some material form of justification of its $38 million market cap before the stock appreciation continues.
