Why is KYN Capital Group Inc Stock in Focus This Week?
The KYN Capital Group Inc (OTCMKTS:KYNC), which is a Nevada-based corporation, has seen its stock make considerable gains in recent times. During the course of the past week, the stock has gone up by as much as 100% and in this sort of situation; it might be a good move to take a look at some of the recent developments.
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There may not have been any news about KYN Capital Group in the past week but back on April 7, the company had provided a corporate update. The company announced that the application fee to the OTC Markets had been paid and it was waiting for approval so as to update the company’s profile.
In addition to updating the profile, the company is also going to upload its financial results as well as associated disclosures for the full year 2020 and for the first quarter of 2021. It is also necessary to know that the identity of the new officers have also been updated with the Nevada Secretary of State.
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However, it is also important to note that KYN Capital Group revealed that once the approval process with the OTC Markets is completed, the company is expected to become current. That is an important milestone for the company since becoming current will make the company far more transparent for investors and that can only be seen as a positive for the KYN Capital Group stock.
KYN Capital Group is currently focused on the entertainment industry and is specifically involved with touch-less payments and deployment of cryptocurrencies. The Chief Executive Officer of the company, Rick Wilson, spoke about his hopes regarding the company at the time as well.
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He stated that the future is exciting for KYN Capital Group and the company is also looking to build its own website at this point. He went on to state that he is eager to update the company’s shareholders with the business development situation at KYN Capital Group very soon.
It is quite likely that the current action in the stock is possibly linked to any forthcoming announcements from the company. On the other hand, investors need to consider the fact that KYN Capital Group has pivoted to become a holding company. It is involved in potentially high-growth sectors like touchless payments, cryptocurrencies, blockchain, and entertainment. Considering the interest in these sectors among investors, it remains to be seen if KYN Capital Group gets more traction in the markets in the coming weeks.
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