Not too long ago, the OPTEC International (OTCMKTS:OPTI) stock had jumped noticeably but on Monday it corrected sharply and went down by as much as 21%. In light of such a sharp correction, it might be a good time for investors to perhaps figure out if it might be an opportunity to get into the OPTEC stock or not.
Trading Data
On Monday, OPTI stock slumped 21.54% at $0.0102 with more than 55.42 million shares, compared to its average volume of 24.91 million shares. The stock has moved within a range of $0.0092 – 0.0131 after opening trade at $0.0130.
Key Trigger
Yesterday an update emerged about the time line of events in relation to the legal action pertaining to WeShield. However, the major reason behind the fall in the stock yesterday was the fact that an OPTEC shareholder as well as the Chief Executive Officer of WeShield issued denials with regards to any kind of settlement in the litigation.
The announcement may have come as a source of disappointment for the investors and naturally, the OPTEC stock suffered from a sharp selloff. In its statement yesterday, it was noted that no executive from WeShield or its counsel had been contacted by OPTEC in relation to any resolution or settlement in relation to the litigation. It now remains to be seen if the OPTEC stock declines further this morning or manages to recover somewhat in light of the latest revelations.
