Penny stock under Rs 5 hits back-to-back 33 upper circuits; rallies 400 per cent!
Would this stock continue its upward trend, or it would be a case of pump and dump?
“There are decades where nothing happens, and there are weeks where decades happen”- Vladimir Ilyich Lenin.
The stock which we are going to talk about in this article has faced something very similar as the stock has delivered multibagger returns in a matter of few weeks and moreover, it has seen a very rare phenomenon of hitting back-to-back 33 upper circuits.
The stock name is Jai Mata Glass Ltd Company, which is engaged in the glass business and procuring orders as a sales agent in the eastern and northern regions of India.
The stock embarked on this journey on December 12, 2022, and thereafter, there is no looking back as it has gone from strength to strength and within no time from Rs 0.52 it touched the level of Rs 2.62 on January 27, 2023. Recently, the stock has seen an uptick in volumes and on Friday it recorded a volume in excess of 30 lakh shares, which is nearly 10 times greater than its average 50-day volume. Certainly, this tells us something is cooking in this penny micro-cap stock.
What do you think, would this stock continue its upward trend, or it would be a case of pump and dump? Let us know in the comment section.