Success Entertainment Stock More Than Double After The Major Announcement
One of the stocks that emerged as one of the biggest gainers on Wednesday was that of Success Entertainment Group International, Inc. (OTCQB:SEGN), also known as Revavotio Inc. The company is involved in working on a wide range of infrastructure projects starting from those in 5G, utility and construction to waste management, utility management, and the internet of things among others.
Appoints Kevin Harrington to Its Newly-Formed Advisory Board
On Wednesday the company made a major announcement with regards to an appointment to its advisory board and soon enough the stock started soaring. The Success Entertainment stock rallied by as much as 124% after the announcement was made by the company and in light of such a rally, it is perhaps imperative for investors to take a closer look at the stock.
On Wednesday the company announced that globally famed entrepreneur and an original investor on the television show Shark Tank Kevin Harrington has been inducted into the advisory board of the company. There is no doubt that it is a major coup for the company and the market recognized that as well.
Harrington is one of the pioneers in the infomercial space and over the years, he has helped plenty of entrepreneurs as well as business leaders with their visions. Throughout the course of his career, he has managed to launch in excess of 500 products and drove sales to the tune of as much as $5 billion. He will be making a presentation with Success Entertainment Chief Executive Officer Billy Robinson today.
The rally in the stock was hence understandable and it remains to be seen if the Success Entertainment stock can add to its gains in the coming days. Last month the company had made another important announcement with regards to its finances and that had created a lot of buzzes as well. Success Entertainment announced that it has successfully either locked up or retired the entirety of its current short term convertible debt.
Consequently, the company also received more funding on conventional terms. This is a particularly significant announcement considering the fact that businesses in most sectors have been struggling to raise money in light of the coronavirus pandemic. The announcement was made on July 13, a week in which many of its acquisitions were going to be closed. Other additional opportunities in the medical infrastructure were also being considered. That eventually led to Success Entertainment to approach FirstFire Global Opportunities Fund LLC.
Later on, in July, the company announced the acquisition of the Delaware based company named Utility Management Corp. Success Entertainment pads a payment of $4.5 million for the acquisition and it remains to be seen how the company integrates it into its business. Investors could do well to keep an eye on the stock.
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