Every day thousands upon thousands of investors hunt the market for the latest big movers in the micro-cap space and it is easy to see why. These stocks may be volatile but are known to generate considerable gains within a short period of time.
After having recorded handsome gains earlier, the PHI Group Inc (OTCMKTS:PHIL) stock has been trading within a range in recent days. It is often seen that stocks that trade within a range can often move either way eventually and hence, it might be a good idea to take a look into it. Last week, the PHI Group stock had made an explosive move up the charts and emerged as one of the most popular micro-cap stocks in the market.
As a matter of fact, the stock attracted a large volume of new investors and there was heavy accumulation in the PHI Group stock. However, one of the most important things to point out in this regard is the fact that PHI Group commands a major international following among stock market speculators and that has been another major factor behind the dramatic rise in the stock price.
The rally in the stock actually started back in December 2020 as many new penny stock speculators got into it in a big way and pushed the price up progressively. Moreover, the speculation among investors who are active on many online platforms was also a factor in the rising popularity of the PHI Group stock in the past months.