Shares of ThreeD Capital Inc. (CNSX:IDK) (OTCMKTS:BWSOF) are moving higher on the market today, trading up nearly 40%.
ThreeD Capital Inc.
Headquartered in Toronto, Canada, ThreeD Capital is led by CEO Sheldon Inwentash, who just recently joined the St-Georges Eco-Mining (CNSX:SX) advisory board. The company itself has made quite a few headlines over the past month or so, none of which, for the most part, have been negative. For example, on December 31, the Canadian company disclosed that it had added a new member to its advisory board: Frank Dumas. It’s possible that this announcement might have played into investors optimism about the stock seeing as Dumas has more than 15 years experience working in the financial sector and his opinion on the future of the company could prove to be beneficial.
Currently, ThreeD Capital is trading at $0.35, putting the stock up $0.10, or 37.25%. Why is this important? Well, for starters, this surge means the stock is trading on volume of 4,050,848 shares, which puts it at a 52-Week High. Over the course of the past 52 weeks, ThreeD Capital stock has been trading between a range of $0.055 (low) and $0.34 (high).
What Happened Friday?
ThreeD Capital, known for investing in various junior opportunities in technology, mining, and oil and gas, most likely witnessed a nearly 40% increase on Friday’s trading session due to its announcement on Thursday, in which the company stated that it has created a special purpose division within Blockamoto.io Corp, which is ThreeD’s 100% owned subsidiary.
Essentially, the division will invest in numerous strategic tokens and IPO’s, most notably known as Initial Coin Offerings. If you know of an IPO that is primarily protocol based, it’s likely that ThreeD Capital is already looking at investing in it.
The Takeaway
Moving forward, it will be interesting to see how the special purpose division gets on, so check made later this month to see if ThreeD Capital has given us any more information, or if it gives us further updates on its strategic plans.
Featured Image: twitter
