PHI Group Inc (OTCMKTS:PHIL) Stock Consolidates After The Big Move
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.
Why is PHI Group (OTCMKTS:PHIL) Stock So Volatile Over The Past Month?
One of things that needs to be kept in mind with regards to small cap stocks is the fact that these stocks may be volatile but those stocks can also deliver considerable gains.
One of the small cap stocks that could be worth tracking at this point in time is that of PHI Group (OTCMKTS:PHIL). Yesterday, the stock suffered a steep decline of 29% but that was primarily because of the fact that investors wanted to book some of their profits. Despite the fall in the stock on Wednesday, the PHI Group stock is still up by as much as 48% over the past week.
In recent times, the stock has attracted plenty of investors in recent months and has emerged as one of the more heavily accumulated small cap stocks. In addition to that, it is also necessary to point out that the PHI Group stock had also come to the attention of many retail investors who are active on social media platforms and bulletin boards.
Most of those traders are speculators and that has been another important factor behind the continued interest in the PHI Group stock.
While the rally in the stock has been quite fascinating, investors need to also remember that the involvement of a large number of speculators could also result in spikes in the PHI Group stock.
In recent times, it has emerged as one of the most popular stocks among penny stock traders from all across the world. Despite the drop yesterday, it is now going to be interesting to see if the stock can mount a recovery today.
PHI Group, Inc. provides merger and acquisition advisory, consulting, project financing, and capital market services to clients in North America and Asia. It also offers healthcare services and dietary supplements. The company was formerly known as Providential Holdings, Inc. and changed its name to PHI Group, Inc. in April 2009. PHI Group, Inc. was incorporated in 1982 and is headquartered in Irvine, California.