Over the course of the past month, the Black Tusk Resources Inc (OTCMKTS:BTKRF) stock has been in the middle of a steady selloff and has gone down by as much as 17% during that particular period.
Trading Data
On Monday, BTKRF stock ended flat at $0.0250 with more than 152k shares, compared to its average volume of 25k shares. The stock has moved within a range of $0.0250 – 0.0250 after opening trade at $0.0250.
Black Tusk Resources Closes Private Placement
It goes without saying that it is a pretty steep fall but at the same time it is also important for investors to figure out if the fall could in fact be an opportunity to get into the stock. Yesterday, the company was in focus after it announced that it had been successful in completing a private placement of as many as 15,250,000 units and generate gross proceeds to the tune of $305,000.
The company sold that units for $0.02 each. In this regard, it should be noted by investors that each of those units were made up on one common share in Black Tusk and a solitary share purchase warrant. Those who hold a warrant will be able to acquire a common share in the company at no cost for the next two years. At this point in time, it is going to be interesting to see if the latest development leads to any positivity regarding the Black Tusk among investors or not.
Technical Data
BTKRF stock is trading below the 10-Day and 20-Day Moving averages of $0.0250 and $0.0250 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.0275. The stock is down 16% in the past month.
