When a stock soars by an enormous degree within a matter of few weeks, then eventually it almost always goes through a correction since investors need to book their profits as well and that is what happened with The Metal Arts Company Inc. (OTCMKTS:MTRT) stock.
Over the course of the past month, the Metal Arts stock has been in the middle of a parabolic but yesterday some investors decided to cash in and the stock fell by 33%. However, at the same time, it is also important for investors to keep in mind that despite the latest fall the stock is still up by a staggering 2000% over the past month.
In this context, it is necessary for investors to note that the remarkable rally in the stock saw it hit as much as $5 a share at one point from triple zeroes.
The rally really started in the stock after it emerged that a controlling block of 7,665,000 shares in the company had been acquired by the leading South Korean blockchain company Medium in a private sale. That was transaction that led to considerable excitement among investors with regards to the Metal Arts stock and it now remains to be seen if the stock recovers today or not.
