Today shares of Digital Locations Inc. (OTCMKTS: DLOC) are up over 50% in morning trading. This type of move is getting the attention of many small cap stock traders, because it gets the attention of computer stock screening programs. But this stock had a similar move a few weeks ago as you can see from this chart.
This stock came out of nowhere a few weeks ago rising all the way up to 20 cents. It is still off that level even though it is up 50% today. This stock can make big daily swings like this, because it has a very small market cap less than $600,000 with 13.7 million shares outstanding. It has already traded over 27 million shares today so traders have more than turned over the entire trading float. That is wild action.
The news that helped drive the stock up last month according to the website smallcapexclusive.com was when” it announced that its application to conduct research on POWDER (the Platform for Open Wireless Data-driven Experimental Research) has been accepted. It is a major development for Digital Locations, and soon enough, the stock started soaring. “
I do not own this stock and neither does Mike Swanson, who is the head editor of this website. We are just watching it here, but people on twitter are going wild on it:
Decent start +$2k for me today on $DLOC $TOMZ $UAVS $RNWK but congrats to https://t.co/EcfUM6l2S3 students banking: No7: all out $WKHS I'm not gonna deal with another grind. locked in +$11k Chrislife101: Wheeew!! $GNUS $236 profit, $FTEK +$1393 $AEZS +$136 = $1766 profits today— Timothy Sykes (@timothysykes) July 7, 2020
Mike Swanson likes small cap stocks, but this market cap for DLOC is too small for him. Find out about his top summer stock pick by going here.