Normally when we see OTC stocks bid up premarket, there is usually some sort of headline to accompany the bullish premarket sentiment. However, on some occasions no news is present. Rather, the implied move for the coming session can sometimes come after a big rally the session before. This is the exact case for LATAM Airlines Group S.A. ADR (OTCPK:LTMAQ).
LATAM Airlines Group SA is one of the largest air transport groups in Latin America. It operates in multiple countries in South America and helps bring better connectivity within the region. Additionally, it has entered agreements with operators in the industry to help reach more global destinations. Revenue is generated from transporting passengers and cargo and utilizing a network of freighters.
Traders appear to not be through with this small cap as shares are currently bid up at $0.66/share (+6.45% implied open for sellers). This potential move will come after a massive rally on Monday as shares went on to close at $0.62/share (+50.12%).
