Following a fresh announcement from the company on Tuesday, the ZA Group (OTCMKTS:ZAAG) stock managed to make a bit of a recovery and ended the day with gains of 7%.
On Tuesday, ZAAG stock jumped 6.55% to $0.0029 with 57.73 million shares, compared to its average volume of 3.19 million shares. The stock has moved within a range of $0.0019 – 0.0034 after opening trade at $0.0029.
Launches New Corporate Website Expands Direct To Consumer Brands
However, at the same time, it is also important for investors to note that the stock has suffered in the past week and is down by as much as 26% during the period. Yesterday, the company was in the news after it announced that it had launched its website again. The revamped website not only spells out the new corporate mission of the company but also bears a new look altogether.
The launch of a revamped website is almost always a significant event for a company since at the end of the day the website gives a window into the company for investors as well as potential customers.
ZA Group is involved in the brand development space and is mainly involved in making acquisitions in the direct to customer brands space. At this point in time, ZA Group is involved in those direct to customer brands which are known for delivering products in sectors like wellness, home, active and outdoor lifestyles and fashion sectors.
ZAAG stock is trading in the oversold zone with RSI at 34. The stock has pivot supports at 0.0006, 0.0012, 0.0021 and resistances at 0.0036, 0.0042, 0.0051. The stock is down 17% in the past week.