Cryptocurrency, digital asset and blockchain technology firm Net Savings Link Inc (OTCMKTS:NSAV) may have made a key announcement yesterday but the company’s stock continued to trade within a range nonetheless.
Trading Data
On Wednesday, NSAV stock fell 4.27% at $0.0493 with more than 61.64 million shares, compared to its average volume of 104.33 million shares. The stock has moved within a range of $0.0470 – 0.0566 after opening the trade at $0.0482.
Update On Pending Acquisition Of Leading Cryptocurrency Exchange
On Wednesday, the company provided an update with regards to the still pending acquisition of a major cryptocurrency exchange. The company announced that back on October 21, 2021 it had inked a letter of intent which specified that Net Savings Link was going to acquire a 51% holding in the cryptocurrency exchange. It should be noted that although the cryptocurrency exchange still remains unnamed, it has been suggested that it is one of the leading exchanges at this point.
Yesterday, it was announced that both the parties were working closely in order to close the transaction as fast as possible. The management team at Net Savings Link believe that it is an acquisition that could be a significant boost to the company’s portfolio. It has also been suggested that the acquisition could also prove to be a major boost to the entire Net Savings Link ecosystem. At this point in time, it might be a good move for investors to keep an keen eye on the developments with regards to Net Savings Link.
Key Quote
Dato’ Sri Desmond Lim, Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner stated, “We would like to thank the team at BW for their recent tweet, welcoming NSAV to the BW family. We would also like to thank the NSAV shareholders for their support, as this is a major transaction and may be taking a bit more time than we originally anticipated. The Company will provide updates as circumstances warrant.”
Technical Data
NSAV stock is trading above the 20-Day and 50-Day Moving averages of $0.0448 and $0.0366 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0266. The stock is up 74% in the past month.
