Home Financial Markets Penny Stocks Is Appyea Inc. (APYP) Stock Moved Up For A Reason?

Is Appyea Inc. (APYP) Stock Moved Up For A Reason?

The AppYea Inc. (OTC: APYP) stock reached $0.0064 at the previous close recording a rise of 72.97%. Last week’s stock performance was 120.67% compared to the performance over the last month of 276.47%.

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What does the company do?

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It is a development stage company that acquires, maintains, and develops mobile software applications. The company offers mobile applications for iPad, Android, and Amazon platforms. Duck Quest, Ball Bearing Racer, and Cheap RX are some of the company’s applications. Healthcare groups and other healthcare providers order diagnostic tests from the company and it also offers advertisement services on its free version of the mobile application. The Boca Raton-based AppYea, Inc. was founded in 2012. It began developing apps focusing on end-users in 2012 and then started working on improving the healthcare process. A vision has been set forth by Management for 2021 to build and acquire medical devices that have an affordable price to enhance life quality.

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What drove the stock higher?

Apparently, there has been no such news directly linked to the company that can cause the stock price to surge. But the company came announcing yesterday holding of its Annual Shareholder Meeting canceling its previous intention of Zoom Call scheduled for today. Also in late last month, Appyea, Inc. entered into a nonbinding Letter of Intent for the acquisition of Israel-based SleepX Ltd. The Proxy Statement for the Annual Meeting is expected to be published around the second week of March 2021.

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The AppYea Inc. proxy for the Annual Shareholders Meeting expects the following items to be submitted for shareholder voting; the proxy could be subject to changes:

  • Vote in favor of AppYea Inc.’s reincorporation into a state of Wyoming or Nevada from South Dakota.
  • The process of reincorporating the Company will include approval to rename the Corporation.
  • To approve the corporate right of AppYea Inc. to do a merger and the Company’s capital allocation plan next year to cover acquisitions or series of investments.

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