Mobile and web technology company Metatron Inc (OTCMKTS:MRNJ) did not have a great start to the week in the markets as its stock tanked by as much as 10% amidst a strong selloff.
Market Reaction:
On Monday, MRNJ stock fell 10% at $0.0009 with more than 659.63 million shares, compared to its average volume of 163.54 million shares. The stock has moved within a range of $0.0009 – 0.0011 after opening the trade at $0.0010.
Metatron Announces Ketobodz Iphone App with Crypto Payments
The company, which is well known for having created in excess of 2000 apps, was in the news yesterday after it announced the release of a crypto powered e-commerce app. The app in question was released on the Apple App Store yesterday and although the concept sounds intriguing, the announcement did not lead to any great sense of optimism among investors.
In this context, it is important for investors to keep in mind that the app was launched along with Ketobodz. Ketobodz is a prominent brand involved with fitness products and nutrition supplements and its app was also released on Google Play yesterday.
It should be noted that the worldwide keto market has grown at a breakneck pace in recent times and as recently as 2020, the worldwide market was valued at as much as $10.1 billion. It is also believed that online sales through the app are going to be a fast growth segment for Metatron. Despite the fall in the stock, it could be a stock worth tracking.
