In the past week, the Starco Brands Inc (OTCMKTS:STCB) stock has been one of major laggards in the market and has tanked by as much as 35% during the period. It goes without saying that the decline has been significant but at the same time it is important for investors to take a closer look at the possible reasons behind the sharp selloff.
Trading Data
On Monday, STCB stock moved down 0.11% to $0.45 with more than 35k, compared to its average volume of 9k million shares. The stock has moved within a range of $0.4500 – 0.7480 after opening trade at $0.75.
Latest 8-K
Earlier on in the month on December 1, Starco published a press release in which it announced that it had launched a new ‘game changing vodka infused whipped cream’ named Whipshots, in collaboration with the globally renowned artist named Cardi B.
It goes without saying that it was a major announcement from Starco but did not lead to any particular enthusiasm about the company’s stock. In addition to that, the company had also released financial exhibits and regulatory FD disclosure at the same time.
Although it is true that the collaboration with a world famous star is a significant move, it seems that the investors have not seen it in the same way. At this point in time, it is important for investors to keep an eye on the news with regards to Starco.
Technical Data
STCB stock is below the 20-Day and 50-Day Moving averages of $0.5521 and $0.5081 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.5634. The stock is up 12% in the past month.
