An interesting potentially opportunity arose this morning after shares of a shell company got bid up on a significant headline during premarket hours. According to the release, the Company has identified an acquisition target with a long-term business strategy in the dental lab industry, and has made an offer to its shareholders to acquire the company in its entirety.
While not much information is available on the micro cap itself, shares of Costas Inc. (OTCPK:CSSI) appear to be getting some attention from the investment community this morning following the announcement. Traders appear to be bullish on the news as shares are currently bid up at $0.0177/share (+8.59% implied open for sellers) at the time of writing. This move comes sessions after the stock found support established earlier this year. It will interesting to see how Wednesday's session plays out for this stock!
