On Wednesday, the Bonanza Goldfields Corp (OTCMKTS:BONZ) stock made a strong recovery and ended the day with gains of as much as 18%. While the recovery was notable, it is also necessary to point out that over the course of the past week the stock has performed poorly and is still down by 55% for the period.
Market Action:
On Wednesday, BONZ stock increased 17.65% at $0.0100 with more than 22.07 million shares, compared to its average volume of 10.36 million shares. The stock has moved within a range of $0.0088 – 0.0110 after opening the trade at $0.0097.
Major News
There was no news about the company yesterday but earlier on in the week Bonanza Goldfields had announced that it had completed the acquisition of Marvion Holdings Limited. The company also noted that the acquisition had been formally completed back on October 18.
In light of the new acquisition, it might be a good idea for investors to get a better idea about Marvion Holdings as a company. The company is classified as a metaverse blockchain tech entity. It is involved in helping preserve as well as enhance the value of creative intellectual property in media and entertainment through products like NFTs or non-fungible tokens. Bonanza Goldfields is going to own the entirety of the company once the acquisition is completed. It is an important acquisition since NFTs have now become a highly lucrative portion of the crypto market.
