Shares of Auctions International Inc. (PINK: AUCI) soared 35% in today�s trading after the company received a buyout offer from Car Help USA LLC.
Car Help made an unsolicited buyout offer to acquire all outstanding and issued shares of Auctions International at $10 per share. According to analysts, the acquisition will allow Car Help to diversify its portfolio.
Car Help is engaged in providing assistance to qualified clients in re-negotiating their existing auto loans in order to possibly lower their payments. According Car Help�s CEO, the current economic and market conditions have afforded the company an opportunity to acquire Auctions International, which will complement the company�s core business, and provide a unique platform fir continued expansion.
Car Help believes that the acquisition is important for the company and for its continued growth as industry leader.
Following the reports of the unsolicited buyout offer, shares of Auctions International saw a huge rally in today�s trading. The penny stock reached a high of $0.01 in today�s trading and ended the day 35% higher at $0.0027, with volume up from daily average of 17.37 million. The stock has a 52-week range of $0.00-$0.01. It is currently trading above its 50-day and 200-day moving averages.
Auctions International is engaged in the implementation of its proprietary software to allow 24/7 virtual live auctions for all products and commodities around the world.
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pennystocks
Brilliant, I'll look more into the company as this could turn out to be one among the Red hot penny shares! Cheers.
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