After hitting a low of $.05 a share, Acme Sports shares soared to $.19 a share. Its 9 day EMA is also heading for a bullish crossover of MACD with increased trading volume. The trading indicators are neither overbought nor oversold shown by the RSI of 47. This stock has great potential for further gains as management recently retired 27 million shares to increase shareholder value and enabled the company to pursue prospective opportunities.
Acme Sports and Entertainment is a training, management, and promotional provider to boxers and recently have begun to divest into other business units. Recently, ACME signed a letter of intent to acquire K&M Marketing Enterprises Inc., a Cigar Manufacturer based out of Florida. K&M also owns a line of anti-aging water and New York Coffee company products. Acme is also seeking further acquisitions and strategic alliances. The company’s goal is to build nationally branded products and sell exclusive distribution rights to its products within defined territories.
The CEO of Acme is quoted saying, “The rapid growth and complexity of our company coupled with the solid foundation that we have already built but require full transparency for our shareholders that they are entitled to, but also the reach and liquidity provided by the larger exchanges.” He also went on to say that he is proud of their current accomplishments and looks forward to a productive and profitable future.
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