It was not a particularly memorable day in the markets for investors in the Dalrada Corporation (OTCMKTS:DFCO) stock as the stock suffered from a mini selloff and ended the day with losses of 2%. In this context, it may be a good idea for investors to take a look at a key development from yesterday.
Trading Data
On Wednesday, DFCO stock fell by 2.20% to $0.89 with more than 48k shares, compared to its average volume of 138K shares. The stock has moved within a range of $0.8650 – 0.9190 after opening trade at $0.9190.
Recent News
It emerged yesterday that the company’s subsidiary unit Dalrada Precision was collaborating with the tech giant Lenovo with regards to computing power and with Icetop for the purposes of providing full service solutions to take care of environmental worries, water and high energy consumption related cost issues.
While the announcement was a significant one for the company, it did not lead to any great optimism about the Dalrada Corporation stock and it was reflected in the price action in the stock.
The tie up with a tech giant is certainly a major development for the company but at the same time it is going to be interesting to see if the stock can make a recover any time soon. At this point in time, it may be a good idea to add the Dalrada Corporation stock to your watch lists.
Technical Data
DFCO stock is trading above the 20-Day and 50-Day Moving averages of $0.79 and $0.59 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.40. The stock is up 14% in the past month.
