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      Why SGOCO Group Ltd. (SGOC) stock skyrocketed on Wednesday? - Stocks Telegraph

      By Asim Kamal

      Published on

      July 15, 2021

      6:01 AM UTC

      Why SGOCO Group Ltd. (SGOC) stock skyrocketed on Wednesday? - Stocks Telegraph

      SGOCO Group Ltd. (SGOC) shares jumped 12.88% in after-hours on Wednesday, July 14, 2021, and closed the trading at $14.90 per share. Earlier in the morning session, SGOC’s stock rallied 37.64% to close Wednesday’s session at $13.20. SGOC shares have risen 1157.14% over the last 12 months, and they have moved up 445.45% in the past week. Over the past three months, the stock has gained 654.29%, while over the past six months, it has declined 725.00%.

      Let’s have a look at SGOC recent news and developments.

      Nasdaq stock exchange compliance regained by SGOCO Group Ltd

      On July 14, 2021, SGOCO Group Ltd announced that it has regained compliance with the Nasdaq stock exchange.

      On May 18, 2021, SGOCO Group, Ltd received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market Incnotifying that the Company is no longer in compliance with the Nasdaq Listing Rule 5250(c)(1) for continued listing due to its failure to timely file its annual report on Form 20-F for the year ended December 31, 2020, with the U.S. Securities and Exchange Commission.

      About the company

      SGOCO is a conglomerate group of various businesses with its headquarters based in Hong Kong. The group is principally engaged in,Virtual Reality (“VR’) device and technologies research and development (b) environmental protection, energy-saving technologies, equipment development and applications (c) money lending business in Hong Kong providing mortgage loans to high-quality target borrowers with low credit risk who can provide mortgage collateral and/or third-party guarantee and (d) property investment to generate additional rental income to further boost the group’s cashflow over the long term.  The group’s vision is to operate as a conglomerate to build synergy within its sustainable ecosystem thereby create value for shareholders.

      Conclusion

      SGOCO has experienced extreme volatility in recent days as retail day traders have been piling into the Chinese fintech company, which was a penny stock not long ago. Yesterday’s surge was after it regained Nasdaq compliance. There is no other recent news available at the moment so it is hard to predict how SGOC will perform in the coming days.

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