This past Friday, Sanwire Corporation (OTCMKTS:SNWR) was in focus after its fully owned subsidiary company Intercept Music made a key announcement. Sanwire is involved in the SaaS (software as a service) space that is specific to the entertainment industry.
Trading Data
On Friday, SNWR stock ended flat at $0.0086 with more than 2.2k shares, compared to its average volume of 83k shares. The stock has moved within a range of $0.0086 – 0.0086 after opening trade at $0.0086.
Latest News
Intercept Music announced on Friday that it had appointed David Miller, a seasoned operator in the music industry, as the Vice President of Marketing. The appointment is an important one for Intercept Music but more importantly it is necessary for investors to keep in mind that Miller is a veteran of the industry and his appointment could help in turbo charging the business.
While the appointment may prove to be a significant piece of news, it did not lead to any particular excitement among investors and the Sanwire stock continued to trade within a range. In this context, it is necessary to point out that Miller has worked with some of the biggest music labels in the industry and bring a wealth of experience in his role.
The President of Intercept Music, Todd Turner, was the one who made the announcement. This morning, it might be a good move to keep an eye on the Sanwire stock and see if there is any kind of break out.
Technical Data
SNWR stock is below the 20-Day and 50-Day Moving averages of $0.0087 and $0.0089 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0096. The stock is down 14% in the past month.
