Traders Bid Up Financial Stock For Second Straight Day
Coming off of a successful Tuesday, a certain financial company appears to be bid up for the second day in a row.
Shares of KYN Capital Group (OTCPK:KYNC) look like they're locked and loaded for a second run after the company closed up at $0.0149/share (+7.97%) on Tuesday. While not on any significant news, this momentum could be somewhat of a ripple effect from the announcement made at the end of September that the company launched a Home Services Marketplace.
KYN Capital, through its wholly-owned subsidiary, is involved in real estate acquisitions, asset-based lending. It specializes in acquiring real estate under market value, and the equity that is available for being taken out as capital to be re-invested into, asset-based lending. The company provides asset-based loans for companies and individuals that provide adequate, and suitable collateral for a loan.
Traders apparently feel that this recent momentum is expected to continue as the stock currently has a bid at $0.016/share (+7.38% implied open for sellers). This move would be a strong continuation of the success this stock has had over the last six months.
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