Software development company and mobile applications aggregator AppSwarm Corp (OTCMKTS:SWRM) has not had a great time in the markets in the past week and its stock has declined by as much as 6% in the past week.
Trading Data
On Wednesday, SWRM stock jumped 0.91% at $0.0111 with more than 25.94 million shares, compared to its average volume of 25.58 million shares. The stock has moved within a range of $0.0107 – 0.0149 after opening the trade at $0.0110.
AppSwarm to Explore Development of Metaverse and NFT Applications
While the decline in the stock in the past week may have been notable, it should be kept in mind that on Wednesday, the company actually did make a key announcement. AppSwarm announced yesterday that it was planning on the development of new health based applications. In addition to that, the company also noted that it was working on non-fungible token or NFT projects that are focussed on the metaverse reality.
In this context, it is important for investors to get a bit of an idea about the fast emerging metaverse space. Metaverse is a new paradigm in the world of virtual reality and helps human beings in interacting with each other while playing games, shopping or while conducting business activities online.
In fact, one can be a part of the metaverse merely by having access to a virtual reality headset instead of a computer. Hence, the move from AppSwarm to get into this space is an interesting one and one that investors could track.
Traders Corner
SWRM stock is trading below the 20-Day and 50-Day Moving averages of $0.0115 and $0.0122 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0136. The stock is down 24% in the past month.
