GDVM Gained 650% In The Past Three
Months On Reverse Merger Speculation.
Global Developments, Inc., (OTCMKTS:GDVM) has become one of the biggest breakout penny stocks of the year so far with a huge run up as much as 650% in just over three months. This move saw it run from a close of $.003 on June 15th 2022 to a high of as much as $.0225 today, before closing the day near that high at $.022.
GDVM is a shell stock and the reason for the huge run, is that in June 2022, Melvin Ejiogu, the CEO of Veemost, took control of GDVM, sparking hopeful expectation among traders, that he may merge Veemost in. Veemost bills itself as a “Digital transformation services provider,” that has provided services to over 1 million users including their innovation hubs that focus on researching and developing solutions that enhance their partners products and services, cloud solution technology infrastructure to manage workloads and applications, cyber security to protect data and assets, and aiding companies in adapting their workforce to the constantly changing digital economy.
GDVM gained a trading boost today, as a result of officially becoming fully Pink Sheets Current, which further bolstered positive sentiment among investors that there may be more corporate developments announced.
The Veemost Corporate Website States That The Company Has A “Strong Pipeline” Of $75 Million Worth Of Contracts And Services:
Also of important to note, is that the Veemost website mentions that the company has a “strong pipeline” that consists of $75 million worth of contracts and services from both government and enterprise organizations. This in itself is the main sticking point that has garnered the most attention from investors because they recognized, especially when GDVM just a few months ago, sat at a market cap around $10.5 million, that $75 million in contracts could mean huge growth if Veemost were to be merged in. While some online chatter has speculated $75 million annual revenue, it is important to take into account that those contracts mentioned on their site may have been amassed over many years, rather than that being their annual intake, so with that in mind we will refrain from getting overly excited, especially considering that at today’s closing price, the market cap of GDVM now sits at $77.4 million.
The Inherent Risk Of Investing Into Shell Stocks:
GDVM is certainly an exciting one in the way that it has managed to entirely overcome the recent trend of the near constant declines that penny stocks have been seeing over the course of the past year and a half and should certainly be kept on everyone’s watch lists. It is important to remember though, that the fact remains that at present GDVM is still a shell stock that otherwise has no major operating business, hurtling near a $100 million valuation, which means that in the event that nothing were to reverse merge into the shell, or if a merger were to be completed with a company that holds little to no value, this stock could swift decline back down to where this run began. This one is certainly a high risk gamble and one to watch closely.
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