SPYR Inc (OTCMKTS:SPYR) continues with its impressive move that started few years ago when the stock traded under a penny as ‘JOES.’ For years, it traded in a narrow range before starting up move on light volume. However, it is only in recent days that company has transformed from a light volume traded stock to one of the top traded OTC stocks on the exchange.
The recent changes
On March 11, SPYR announced approval of the corporate measure requesting a name change to SPYR Inc. Jim Thompson the CEO said that the management is thrilled about the recent developments. The new ticker and name better reflect the existing business model and corporate plans. The company started trading under the new symbol on March 12. 2015.
All the restaurants of the company are still functional. SPYR bought Franklin Networks Inc. in February and became operative into the digital publishing industry. Initially, investors expressed their doubts on the potential benefits of new acquisition, but with time they are getting convinced about the potential of latest acquisition.
The market
SPYR Inc (OTCMKTS:SPYR) now terms itself as a holding company with various subsidiaries active in the digital publishing and advertising segment, the mobile game and application development industry, and also the old business of food service industry. Recently, the company confirmed that its subsidiary firm, SPYR APPS, LLC. has completed the development work of its first mobile game, and is also made available on app stores. The expansion in new segment will boost company’s revenue in the coming quarter.
The company is making good progress with its expansion plans and it is well supported by the stock price. In last trading session, the stock price witnessed a small correction as it declined more than 6% to close the trading session at $0.900. The decline came at a share volume of 222,851 compared to average share volume of 105,014.
