Wondering about the movement today? Here's a little breakdown:
BIMI went up 500% today after acquisition! 🚀
•What happened?—> NF Energy Saving Corp. (NASDAQ: BIMI) exploded up after news broke about acquiring Boqi Zhengji Pharmacy Chain Co., Ltd. this morning. The company acquired is huge in China, owning over 300 stores and franchises. 💊
•Why the acquisition?—> BIMI wants to move towards the health industry “while the market is booming” as said by the CEO. This acquisition shows their dedication to making waves in this new focus. 🔬🏥
•What does BIMI do?—> BIMI is a company based in China that provides energy-saving equipment, tech services, and energy management to clients. 🔋 In February, the company reorganized their Board of Directors and began their shift towards the health industry. 🔋🔜🏥
•WATCH OUT:—> HUGE gains like this are attractive to novice traders looking to simply ride the wave, without a plan. If you want to go in, I strongly suggest looking at previous support and resistance levels to create a plan that will keep your emotions OUT. And if a lot of people start taking profits, the stock will plummet as novice traders get scared and follow the trend. Make sure you go in with a plan and add that stop loss!! 📈📉
Hopefully that helps give a little background on what happened! Please let me know what you think in the comments
Submitted October 14, 2019 at 10:18PM by prettypennystocks https://ift.tt/2OMVo1b
