Today the markets are mixed following yesterday’s massive rally as the Nasdaq is down in the red. But there are pockets of strength, one of which are shares of World Series of Gold, Inc. (OTCMKTS: WSGF), which are soaring up over 264% in morning action. It is turning out to be not only one of the top gaining stocks on the US OTC exchange today, but one of the most heavily traded. The surge is sudden as you can see from this chart.
World Series of Gold, Inc. (OTCMKTS: WSGF) is essentially a shell company as its main website worldseriesofgolf.com is dormant and the stock has a market cap of less than $500,000 even with today’s rally. In its last quarterly reported it reported no sales or revenue.
However, this morning it put out a press release explaining that it was pivoting to the vacation online rental sharing market with the launch of a subsidiary called Vaycaychella. The press release stated that:
“Vaycaychella has built a pilot client base serving a Caribbean based vacation property owner with 10 beachfront community vacation homes currently under management. Vaycaychella anticipates soon adding a small boutique hotel to its pilot client base.”
“In the coming days, Vaycaychella will begin beta testing for its P2P lending app to connect prospective vacation property owners with would be investors. Look for an announcement coming soon asking to sign-up willing participants to test the beta software.”
“While the onset of COVID created some cause for concern as to the interim viability of the short-term rental market, the parallel and industry pacing progress of Airbnb toward an anticipated $30 billion IPO has provided formidable optimism for the paradigm shifting promise across multiple industries to include not only the hospitality industry, but the overall housing and finance industries as well.”
In the small cap world companies often change business models to link themselves to what is likely to be a big play in the stock market that will grab a lot of attention. We have seen this with many covid and electronic vehicle stocks this summer. It appears WSGF is doing that with the upcoming Airbnb IPO. It is getting attention on Twitter today:
$WSGF it’s safe to say if this gets over the 52W high of .022 cents we can absolutely fly , hasnt reached higher than that in about 8 years LMAO— Shemar anglin † (@S_AnglinIV) November 10, 2020
It will be interesting to see what this stock does into the Airbnb IPO, although I do not own it and have no plans to trade it. The same is true for Mike Swanson, who is the head editor of this website. You can get his free trading updates and morning emails by joining his free email list. To subscribe click here.