As another trading day begins, it may be time for investors to take a closer look into those stocks which have managed to make strong moves in recent days. One of the stocks which could well be on the radars of many investors this morning is Software Effective Solutions (OTCMKTS:SFWJ).
The company had been mentioned by the user Logo Jay recently and that resulted in a strong rally in the stock. Since November 4 the stock has been in the middle of a rollicking rally and ended up with gains of as much as 100% as it jumped from $0.05 a share to $0.10 a share amidst heavy interest.
As it happens, the company had actually been in the news back on November 3, 2022, when it made an announcement with regards to its subsidiary unit Medcana. It was announced that Medcana had been successful in picking up a controlling interest in the Medellin-based Eko2o Environmental Solutions S.A.S.
Eko2o Environmental Solutions is a company that is involved in developing the necessary infrastructural solutions necessary for agriculture in the Columbian and South American markets primarily. The company is mainly involved in providing irrigation systems and greenhouse construction systems to its clients.
The controlling interest that Medcana picked up is going to help Eko2o Environmental Solutions in expanding into new markets and that, in turn, is expected to be a major positive for Software Effective Solutions as well. In addition to that, the acquisition is also going to provide Eko20 with more engineering talent pool as well as sturdier vendor support.
That will help the company in becoming one of the biggest leaders in its industry in South America and Columbia. It was a significant move for Medcana and Software Effective as well. It remains to be seen if the stock can continue to climb over the coming days or not.
SFWJ stock is trading above the 20-Day and 50-Day Moving averages of $0.0766 and $0.0500 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0436.