If you have been following these posts regularly, you might’ve noticed an article last week about a CEO purchasing five Million shares of common stock to increase his ownership to around 26% of the company. Well, Rideshare Rental Inc. (previously Yayyo Inc.) (OTCPK:YAYO) is at it again, after announcing the extension of its ACME auto leasing line of credit.
Rideshare is a technology-related car rental company. The company owns and maintains a fleet of new cars and provides them on a rental basis to rideshare drivers. The business is spread across the United States.
Traders were extremely bullish on the news as shares traded up to an early high of $2.50/share (+25%) following the headline. This move is a strong continuation of the rally the stock has been riding all month, coming from a January low of just $0.51/share.
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