Tonner-One World Holdings Inc. (OTCMKTS:TONR) Stock Takes a Hit After Shareholder Update

Tonner-One World Holdings Inc. (OTCMKTS:TONR) shares dropped 35% on Thursday after presenting the CEO introduction letter to its stockholders.

Trading Data

On Thursday, TONR stock slid 34.70% at $0.0088 with more than 527.53 million shares, compared to its average volume of 198.72 million shares. The stock has moved within a range of $0.0080 – 0.0141 after opening the trade at $0.0138.

Tonner-One Steers towards Fast-Growth Fintec, Defi and Cryptocurrency Exchange

The letter indicated that the Board of Directors had elected to change its business model to focus mainly on the acquisition and operation of fast-growing assets and businesses in the Fintech sector. Currently, the company is reviewing potential mergers and acquisitions that operate Fintech, DeFi, and Crypto exchange businesses as part of the company’s fast-growing Crypto Fintech sector.

The company, which was initially called One World Holdings Inc., changed its name on April 8, 2016, into Tonner-One World Holdings and has since been focusing on the design and marking of dolls. The shift in focus to operation Fintec, DeFi, and Crypto exchange businesses will not be an easy task and needs handwork, patience, and dedication to succeed.Therefore, from now on, the focus will be to identify and cancel all improperly issued shares, clear toxic notes through litigations and engage PCAOB auditors in readiness for QB listing. So, in the coming weeks, TONR is worth watching.

Technical Data

TONR stock is trading below the 20-Day and 50-Day Moving averages of $0.0109 and $0.0092 respectively. However, the stock is trading above the 200-Day moving average of $0.0031. The stock is down 25% in the past month.