Yesterday, investors in Marketing Worldwide Corporation (OTCMKTS:MWWC) seemed to have welcomed the announcement from the company with regards to its 3 part plan for expanding its operations. The stock moved strongly following the announcement and ended the day with gains of as much as 28%.
Trading Data
On Wednesday, MWWC stock soared 28.33% to $0.0077 with more than 41.80 million, compared to its average volume of 45.76 million shares. The stock has moved within a range of $0.0060 – 0.0079 after opening the trade at $0.0061.
Launches 3-part Plan to Expand Near-Term Operations
In light of such considerable gains, it is likely that the stock is going to be back in focus among investors today. Hence, it could be a good move to take a closer look at the announcement. One of the most important aspects of its three part plan to expand operations is the launch of commercial cryptocurrency mining operations.
The commercial cryptocurrency mining operations are going to be involved with mining Bitcoin by using the Minosis platform pool. It should be noted that due to the rising price of Bitcoin, crypto mining has become a lucrative business once again.
The second part of the plan relates to the non-dilutive line of credit worth as much as $1.5 million that has been procured by the company. That money is expected to be used for marketing and also for funding further work on the Minosis platform. Last but not the least, MInosis support and integration caps off the three part plan.
Key Quote
“If Marketing Worldwide wants to rent out increased hash rate on the Minosis platform, then it only makes sense for us to dip our toes into the commercial crypto mining industry and stake our claim. This facility could easily accommodate up to Sixty (60) Antiminer SJ19 Pro(s) and Three Hundred (300) Mini-Doge/LTC Miners,” explained CEO Jason Schlenk.
Traders Corner
MWWC stock is trading above the 200-Day and 50-Day Moving averages of $0.0031 and $0.0056 respectively. However, the stock is trading below 200-Day moving average of $0.0079. The stock is up 126% in the past 3-month.
