Over the years, Masterbeat Corporation (OTCMKTS:MSTO) has emerged as a notable company which is involved in acquisition of tangible assets. As far as the asset classes are concerned, the company is primarily focussed on precious metals, collectible cars and real estate among others.
Trading Data
On Tuesday, MSTO stock slid 5.66% at $0.0025 with more than 13.05 million shares, compared to its average volume of 15.88 million shares. The stock has moved within a range of $0.0024 – 0.0028 after opening trade at $0.0025.
Acquires Cadillac Escalade to Build Custom Twin Turbo All Wheel Drive Luxury SUV
Yesterday, the Masterbeat stock was in the middle of a bit of a selloff and went down by as much as 6% after it made a key announcement. In this situation, investor need to figure out if the decline in the stock could in fact be an opportunity or not. The company announced yesterday that a 2007 Cadillac Escalade had been acquired by JTEC Automotive.
The acquisition has been made for JTEC’s SUV Twin Turbo build. It was a significant announcement from the company but it did not lead to any particular enthusiasm from investors. JTEC is a company that is well known for providing car restoration services and the acquisition of the aforementioned automobile from Masterbeat is an important milestone for the company. Now it remains to be seen if Masterbeat can managed to create a steady client from out of JTEC. At this point in time, it could be a good idea to keep the Masterbeat stock in your watch lists.
Technical Data
MSTO stock is trading in the oversold zone as RSI stands at 31. The stock has pivot supports at 0.0019, 0.0022, 0.0023 and resistances at 0.0027, 0.0030, 0.0031. The stock is down 30% in the past month.
