Acquisition Announcement Causes Massive Buying Frenzy

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, May 24, 2022

Acquisitions are always an exciting time for investors and can lead to huge payouts depending on the specific terms of the deal. After closing at $0.59/share on Monday, a Texas-based tech firm announced that it will be getting acquired by Clearwater Compliance for $17.7 million. Seeing that its market cap at Monday’s close was just $7.82 million, natural this caused shares of CynergisTek (NYSE:CTEK) to catch quite the premarket bid on Tuesday.

CynergisTek is a cybersecurity firm dedicated to serving the information assurance needs of the healthcare industry. CynergisTek offers specialized services and solutions to help organizations achieve privacy, security, and compliance goals. Since 2004, the company has served as a partner to hundreds of healthcare organizations and is dedicated to supporting and educating the industry by contributing to relevant industry associations.

As previously mentioned, this news caused traders to bid up the shares of this micro cap. At the time of writing, the current bid is $1.18/share (+100.00% implied open for sellers). It’ll be exciting to see what happens at the opening bell!

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