AppSwarm Corp (OTCMKTS:SWRM) Stock Soars 30% After Launching NFT Marketplace

Among the stocks that ended up as the notable gainers on Thursday, it may be a good idea for investors to perhaps take a closer look at the AppSwarm Corp (OTCMKTS:SWRM) stock.

Trading Data

On Thursday, SWRM stock  soared 2% to $0.0091 with more than 49.20 million shares, compared to its average volume of 22.39 million shares. The stock has moved within a range of $0.0070 – 0.0105 after opening trade at $0.0080.

AppSwarm to Launch NFT Marketplace to Support Growing Metaverse

The mobile applications aggregator and software developer was in sharp focus among investors yesterday after it announced that it was going to introduce NFT (non-fungible token) services and products. AppSwarm also noted that it was making this move in order to provide support to the nascent Metaverse market. The news came as a source of significant optimism for investors and the AppSwarm stock soared by as much as 30% yesterday amidst heavy action.

The NFT space has grown at a remarkable rate over the course of the year so far and more and more companies are now entering the space in order to cash in on the trend.

Hence, it is perhaps not a surprise that a software developer like AppSwarm entered the space. More importantly, the entry into this growing space could be an important step in the evolutions of the company. It now remains to be seen if the stock can hold on to its momentum and end the week strongly.

Technical Data

SWRM stock is trading in the neutral zone as RSI stands at 45. The stock has pivot supports at 0.0037, 0.0054, 0.0072 and resistances at 0.0107, 0.0124, 0.0142. The stock is down 17% in the past month.