Is The Sky The Limit For One Horizon Group?

One Horizon Group

shares are trading higher by $3.58 at $5.50 or nearly 175 percent in Thursday's session. Through its various subsidiaries the company develops and licenses software solutions to telecommunications operators in Europe, Asia, the Russian Federation, and the United States. The catalyst for the rally is that the company's Aishuo App will now support Chines mobile platforms for China UnionPay, Alibaba's Alipay and Tencent's WeChat Wallet. This a much needed boost for the company that reported a Q1 loss $0.03 on a measly $745k in revenues. Interestingly, the issue has a solid day in Wednesday's session as it rallied from $1.52 to $2.02 on lower than average volume of 527k compared with its 20 day average of 1M. However, in today's rally 15M shares have already changed hands with over three hours remaining in the session. At this time, it is approaching the $6 level for the first time since March 2014 when it peaked at $6.15. On May 12, the issue made its all time low at $1.03 and has been grinding here ever until today's explosion to the upside.