KYN Capital Group Inc (OTCMKTS:KYNC) is skyrocketing in the market in what is turning out to be a breakout year for a stock that has felt the full force of short sellers. The stock is already up by more than 150% for the year as it continues to take the market by storm.
Share Price And Catalyst Analysis
A spike in share price, as well as trading volumes, follows the announcement that KYN Capital is poised to retire all its debts as well as shares as part of an ongoing restructuring. In addition, the stock appears to have received a boost in the market on the pronouncement that the company is poised to generate revenues in the upwards of $10 million by the end of the year.Management changes are also on the way as the company looks to tap top talents as it seeks to reinvigorate its growth prospects. The pronouncements have helped shore stock sentiments in the market depicted by high turnover in traded shares. KYNC Daily ChartWhile it remains to be seen if any of the plans will come to fruition, the stock has continued to power up the charts. A 150% plus spike could as well indicate a turnaround in the direction of trade. Even though the stock is still engulfed in a long-term bear trend, fortunes could soon change as bulls continue to assume control.However, the stock is still languishing below the $0.01 mark, despite the meteoric rise from all-time lows. for the stock to turn bullish given the underlying long-term bear trend, it first needs to rise and stabilize above the $0.01 psychological level. Below the critical resistance level, the stock remains susceptible to further drops given the underlying bear trend.
About KYN Capital
KYN Capital casts itself as a holding company. Being a diversified company, the firm has invested in entities with operations in the agriculture, Nutraceuticals and alternative energy. In addition, the company offers technical services for protection when it comes to cloud computing.
Debt and Shares Retiring
KYN Capital is exploding in the market on the Chief executive officer, Maria Daniels, announcing plans to retire all of the company’s debts. In addition, the executive has announced plans to retire some of the company’s shares seen as a way of reducing over dilution in the market.The company has already opened discussions with noteholders and large shareholders as it eyes a deal to retire the debts as well as the shares. The Chief executive officer has confirmed a significant update in relation to debts and share retiring will be in the offing soon. The executives also maintain that the development will have a positive impact in reinvigorating the company’s prospects as well as increasing shareholder value.
$10 Million Revenue Target
Amidst the restructuring drive, KYN Capital has also provided an ambitious outlook for 2019 that continues to excite the market. In a press, release Ms. Daniels says the company is on course to surpass the $10 million mark when it comes to revenue generation in 2019. How the company plans to achieve such a feat is still unclear.In addition, the Chief Executive Officer has confirmed plans to engage a new qualified management team to run the company’s subsidiaries; Algae World Inc. and ATAX Cloud Accounting.
“We are pleased with our subsidiaries and have more acquisitions planned for the 2nd quarter of 2019. The company is also working on several CBD infused products including CBD water and Soda,” Ms. Daniels in a statement.
Upon appointment as the Chief Executive Officer in January, Ms. Daniels confirmed plans to pursue strategic partnerships as part of an effort to reinvigorate growth metrics. In addition, the company is eyeing new acquisition having also announced plans to pursue growth on natural sciences as well as on cannabis oil.
Bottom Line
KYN Capital has started showing signs of rising from the dead if a recent spike in share price and trading volume is anything to go by. The upward momentum has gathered pace as bulls continue to take the fight to the bears.While the stock is still engulfed in a long-term bear trend, in the short term, it has turned bullish given the 150% plus spike. A rise past the $0.01 mark should affirm the emerging uptrend setting the stage for the stock to continue climbing the ladder as a bounce-back play.We will be updating our subscribers as soon as we know more. For the latest updates on KYNC, sign up below!Disclosure: We have no position in KYNC and have not been compensated for this article.
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