The share price of Trans Global Group, Inc has doubled since the beginning of the month, with most of the gains coming during the last few days. The OTC stock is now trading at $0.0043, up 90% over the last five days. It hit a swing high on August 12 at $0.0056, the highest level since April.
Investors have been waiting for a reverse merger, although nothing was officially confirmed since our latest mention of TGGI.
Trans Global used to be a green company that focused on the renewable energy and solar energy sector. After a major restructuring, it now considers itself to be an investment company. According to a recent SEC filing, the company reiterated its plan to acquire companies operating in China’s liquor industry, and this leads us to believe a reverse merger is on the horizon.
The new CEO, Ren Chen owns a wine/liquor firm in China that is listed on the Shanghai Market. Previously, he wanted to get listed on the NASDAQ but failed with his $6 billion Chinese firm, so he acquired TGGI to turn it into his wine company and list it on NASDAQ. The current market cap of TGGI is $30+ million, so there is much room for growth after the reverse merger happens, especially with the NASDAQ goal. This might be one of a kind opportunity for investors.
We expect some big press releases to be published, so make sure you hold TGGI by that time, as the share price will explode following the reverse merger news.