Republic Power Group (RPGL) stock rocketed higher on Monday despite a lack of news from the Singapore-based tech company. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today.
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Even so, there are some things that investors will want to keep in mind about Republic Power Group and its rise today. That includes its recent initial public offering (IPO). The company went public in mid-October with an IPO price of $4 per share. To put that in perspective, the company’s stock closed out Friday at 26 cents per share, showing a significant decline over the past two months of trading.
Republic Power Group has been plagued by issues since its IPO, including a late annual Form-20 F filing that triggered a delisting notice from the Nasdaq Exchange. To go along with this, the company has called an extraordinary shareholder meeting set for Wednesday. This meeting will cover a new company charter and a vote to allow share consolidation. This share consolidation is likely a preemptive measure by the company to avoid being delisted due to its low share price.
Republic Power Group Stock Movement Today
Republic Power Group stock was up 73.95% in pre-market trading on Monday, following a slight dip on Friday. The stock has decreased 93.58% since it went public in October.
Trading activity today was unusually high, as some 43 million shares of RPGL stock changed hands. For the record, the company’s daily average trading volume is roughly 1.25 million units.
Investors will want to be careful about taking a stake in Republic Power Group. Its shaky history and relatively limited time on the market make it a hard stock to recommend. It also lacks significant analyst coverage.
