OI (OTCMKTS:OIBRQ) Stock Price Up 1,648.3% - Here's What Happened

Key Points

• Oi S.A. (OTCMKTS:OIBRQ) saw its stock price surge by 1,648.3% on Friday, closing at $1.75 after trading as high as that price, compared to the previous close of $0.10.
• Trading volume was approximately 126 shares on Friday, which is a 46% decline from the average daily volume of 233 shares.
• Oi provides a range of telecommunication services, including fixed telephony and internet services, primarily in Brazil and internationally.

Oi S.A. (OTCMKTS:OIBRQ - )'s stock price was up 1,648.3% on Friday . The stock traded as high as $1.75 and last traded at $1.75. Approximately 126 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 233 shares. The stock had previously closed at $0.10.

OI Stock Performance

The business's 50-day moving average is $0.13 and its two-hundred day moving average is $0.11.

About OI

Oi SA, together with its subsidiaries, provides telecommunication services in Brazil and internationally. The company offers fixed telephony services; domestic and international long-distance services; and maintenance and repair services. It also provides call center and telemarketing, Internet, network, and Wi-Fi Internet services; and financial, and payment and credit system services, as well as consulting services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.