HomeFinancial MarketsPenny StocksWhy China Teletech Holding (CNCT) Stock Skyrocketed On Tuesday?

Why China Teletech Holding (CNCT) Stock Skyrocketed On Tuesday?

The share price of China Teletech Holding, Inc. (OTC: CNCT) jumped 178.64% on Tuesday and ended the session at $0.0450, bringing its market cap to $7.02M. Nearly 5 million shares have been traded recently, exceeding the average daily volume of 406.29K. Also, the shares have been trading between $0.0160 and $0.0467 on the day. The pink sheets company has 434.47 million shares outstanding against 118.95 million shares in the float.

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Company profile:


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  • China Teletech Holding, Inc. is an investment holding company with no significant operations currently.
  • It previously supplied lithium-ion polymer batteries, micro-batteries, and smart cards, as well as design, development, manufacturing, and distribution of them.
  • Shenzhen is the company’s headquarters, which was started in 2006, and has a global reach.
  • Both in China and in other countries, the company explores the possibilities of acquiring new business.

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What caused the surge?

With no news directly affecting the company that would spur its stock’s price upwards, it could be beneficial to take a closer look at its stock’s mid-term performance to see its potential. Over the last month, shares of CNCT increased by more than 484% with an average trading volume of over 599.18K shares. The stock gained over 1700% in three months, while the average trading volume was 399.33K.

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