Profit booking is a common occurrence when a stock soars considerably within a short period of time and that is what happened with the Valiant Eagle Inc (OTCMKTS:PSRU) stock on Wednesday.
As a result of profit booking, the Valiant Eagle stock actually dropped by as much as 24% yesterday. While the fall was considerable, it should be noted that the stock is still up by 120% over the past week. In this situation, it might be a good move for investors to figure out if the latest fall could be an opportunity to get into the Valiant Eagle stock.
Earlier on this week, the stock was in sharp focus after the company made a major announcement. Valiant Eagle announced that following a new agreement, its NFT (non-fungible token) platform Fungy is going to have one of the biggest sources of NFT.
The agreement in question was signed with Cinevision Global and as per the letter of intent signed between the two parties, as many as 2000 NFTs related to films and television titles are going to be made available on the Fungy NFT marketplace. It was a major development for Valiant Eagle and proved to be a major trigger for the latest rally in its stock.
