Today, penny stock Drone Guarder (OTCMKTS:DRNG) is on the move in a big way. Shares of DRNG stock are now 75% higher on extremely heavy volume today. In fact, more than 30 times the average daily volume of shares have traded hands with this little-known company.
Behind today’s move is a report that Video River Networks (OTCMKTS:NIHK) is acquiring Drone Guarder. Reports of this acquisition remain unclear as to the particular details of the deal. However, it appears a working capital loan to Drone Guarder, as well as reinstatement and listing fees, will be included as part of the deal.
Indeed, DRNG Stock is one many investors haven’t heard of. After all, this is a company that currently holds a market capitalization of less than $2.5 million, after today’s rise. Accordingly, investors may be intrigued to know what this company does, and why it’s taking off today.
Let’s dive into a few things investors may want to know about Drone Guarder as it moves higher today.
Why DRNG Stock Is Soaring Today
- According to the company’s profile information, Drone Guarder acts as an early-stage security and surveillance company.
- Among the businesses Drone Guarder operates in include home security systems, infrared cameras and mobile application components.
- Reportedly, Drone Guarder has a global presence, with a base in the UK.
- The company’s most recent filings were in 2018. At that time, the company was still pre-revenue.
- This deal purportedly looks to get Drone Guarder back in compliance with listing requirements. Accordingly, speculators appear to be buying into this micro-cap stock today.
- Currently, shares of DRNG stock trade at less than a penny per share ($0.006), as of the time of writing.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.