In the past week, the selloff in the CreditRiskMonitor (OTCMKTS:CRMZ) stock has been considerable and the stock has declined by as much as 9% as a consequence.
Trading Data
On Thursday, CRMZ stock increased by 1.76% to $1.73 with more 9.6k shares, compared to its average volume of 5.06K shares. The stock has moved within a range of $1.6700 – 1.7500 after opening trade at $1.75.
CreditRiskMonitor Announces Forgiveness of PPP Loan
Considering the magnitude of the decline in the stock, investors need to figure out if the stock is to be avoided or if the decline is an opportunity for investors to get into it. In this context, it should be noted that on Thursday CreditRiskMonitor was in the news after it emerged that the company’s loan forgiveness had been processed by the Small Business Administration.
The company noted that its Payroll Protection Program loan had been forgiven in its entirety. It goes without saying that it was a major development for the company and one that is almost certainly going to come to the attention of investors over the coming days. In this situation, it remains to be seen if the CreditRiskMonitor stock manages to see a change in fortunes. It may now be a good move for investors to keep an eye on the company which is best known for publishing financial information that meant for helping with corporate credit and procurement professionals.
Technical Data
CRMZ stock is trading in the neutral zone with RSI at 42. The stock has pivot supports at 1.6033, 1.6367, 1.6833 and resistances 1.7633, 1.7967, 1.8433. The stock is down 9% in the past month.
