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Here’s Why AGM’s Share Price Rallied 86.25% Today

Applied Graphene Materials
Simon Mugo

Shares of Applied Graphene Materials Plc (LON: AMG) rallied 86.25% as investors bid up the company stock price due to recent developments.

The company listed on the US OTC market on 12 August and has signed multiple distribution agreements in the US and Canada.

Today’s rally was not driven by any major announcements but was attributed to a late reaction by investors to all the recent positive developments. The company signed a new distribution agreement with Cambrian to distribute its products in Canada.

Cambrian is part of the Maroon Group, which distributes AGM products in the United States, giving AGM a widespread distribution footprint across North America.

AGM’s rally follows hot on the heels of HAYD’s 35% rally as the British graphene industry gains popularity among investors.

AGM share price

Tradingview chart of AGM share price 20082020

AGM shares today rallied 86.25% to trade at 44.7p from yesterday’s closing price of 24.0p.

Simon Mugo
Simon Mugo
Contributor

Simon ist Autor und Analyst für den Bereich Finanzwesen und blickt auf über sechs Jahre professionelle Erfahrung als Trader zurück. Er absolvierte einen Bachelor in Mathematik und Informatik und hat eine Leidenschaft für die Finanzmärkte. Simon handelt FX, Rohstoffe und Aktien. Er konzentriert sich auf Price Action Trading.