There has been no news about PHI Group (OTCMKTS:PHIL) this week but the company’s stock has been in the middle of a strong selloff for quite some time.
Trading Data
On Thursday, PHIL stock lost 2.82% to $0.0069 with more than 115.59 million shares, compared to its average volume of 198.95 million shares. The stock has moved within a range of $0.0065 – 0.0073 after opening trade at $0.0070.
Latest News
Over the course of the past week, the stock has declined by as much as 10% and in light of such a decline, it could be a good idea to take a look at a development from earlier on this month. Back on November 2, 2021, it had emerged that PHI Group had signed a cooperation agreement with the company Digital Solutions Co. The Chairman of Digital Solutions stated that the agreement is an important one since the two parties share the same vision.
The two companies are going to collaborate in terms of investments in the fields of blockchain, green energy, finance and agriculture among others. It was further added that PHI Group and Digital Solutions were going to collectively build a strong portfolio of investments in these sector that could be beneficial to the society at large as well.
Although the development did not come as a source of optimism for investors, it could be a good idea to keep track of the developments with regards to this collaboration.
Technical Data
PHIL stock is trading above the 50-Day and 200-Day Moving averages of $0.0068 and $0.0062 respectively. However, the stock is below the 200-Day moving average of $0.0070. The stock is up 5% in the past 3-month.
