Over the course of the past few days, the Life Clips Inc (OTCMKTS:LCLP) stock has gone through a pretty difficult time and the trend remained the same on Monday as the stock ended the day with a decline of as much as 4%. The selloff in the stock on Monday took its decline for the past week to 14%.
Trading Data
On Monday, LCLP stock ended lower by 3.75% to $0.0154 with more than 44.57 million shares traded, compared to its average volume of 31.97 million shares. The stock has moved within a range of $0.0127 – 0.0162 after opening trading at $0.0162.
Life Clips CEO Issues End of Year 2021 Letter to Shareholders
Yesterday, the company was in focus among investors after the Chief Executive Officer of Life Clips, Robert Grinberg, sent out a letter addressed to the shareholders. In this situation, it might be a good idea for investors to perhaps take a look at some of the highlights from the letter.
The CEO referred to the sort of progress that has been accomplished by Life Clips over the course of the past months. In this regard, he was particularly keen about the two acquisitions made by Life Clips in the past eight months.
One of those was the acquisition of the artificial intelligence development company Cognitive Apps Software Solutions Inc. The other acquisition that the CEO spoke about was that of the fintech firm Belfrics Group. Belfrics is going to be help Life Clips in making an entry into the fast growing crypto space.
Technical Data
LCLP stock is trading below the 20-Day and 50-Day Moving averages of $0.0192 and $0.0239 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0175. The stock is down 14% in the past month.
