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.
- 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.
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.