Acquisitions are always exciting times for both public and private companies alike. It’s also an extremely exciting time for investors (assuming it’s a public company). That was the case this afternoon after Alltemp Inc. (OTCPK:LTMP) announced that the company has signed a definitive letter of intent to acquire an established digital advertising and marketing business, Digi Messaging and Advertising, Inc. Shares of this micro cap absolutely skyrocketed following the news.
Alltemp is a company that develops, markets, and sells commercial refrigerants for the residential and commercial marketplace under the brand name Alltemp. Its refrigerants with various formulations classified as L, M, and H have broad applications in heating, ventilation, and air conditioning (HVAC), refrigeration, foam insulation, and industrial solvents. Its refrigerants act as a replacement for other refrigerants having a detrimental effect on the environment.
Traders were extremely bullish on the news as shares ripped up to a late session-high of $0.11/share (+155.81%) immediately following the announcement. This movement is a strong breakout of the multi-month trading range it has been stuck in.
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