Investors in the mobile technology and marketing firm Friendable Inc (OTCMKTS:FDBL) have not a particularly good time in the past week. The selloff in the stock continued yesterday as the stock went down by 7% and that took its losses for the past week to as much as 18%.
However, the company was in the news yesterday and it might be a sound move for investors to take a closer look at it. On Thursday the company made an announcement with regards to the launch of its October promotional named ‘Double Down’.
The promotion is aimed at providing incentives to Fan Pass artists for boosting merchandise and ticket sales. In the process, the artists could potentially end up earning double for the month. As per the provisions of this particular promotion, Friendable is going to match the earnings made by each artist during the month and help in doubling their income.
Hence, the name of the promotion is also understandable. The earnings are going to be matched by the company for all merchandise and ticket sales that are driven by the artists. The optimism among investors with regards to the promotion is hence understandable.
