Anyone who is looking into the biggest gainers in the market from last Thursday are unlikely to overlook the move that was seen in the US Energy Initiatives Corp Inc (OTCMKTS:USEI) stock. The stock came into considerable focus after a major announcement from US Energy Initiatives Corp and ended up with gains of as much as 67%.
Trading Data
On Thursday, USEI stock was up 66.67% to $0.0015 with more than 1.01 billion shares traded, compared to its average volume of 82.29 million shares. The stock has moved within a range of $0.0012 – 0.0017 after opening trading at $0.0013.
US Energy Initiatives Deposits Digital Assets for Sale and Moves Into the Metaverse
The company announced on Thursday that it had transferred as much as $10 million worth of its digital assets to the BMCS SUMCOIN INDEX FUND. The company also noted that the digital assets were going be sold at the market price.
More importantly, US Energy Initiatives Corp announced that it decided to do this as part of its business plan for 2022. The funds are going to be deployed towards its plans to get into green energy mining and for making an entry into the fast emerging Metaverse space. The announcement came as a source of significant optimism for investors and it is going to be interesting to see if the stock can hold on to its momentum over the course of this week. It may be a good idea to add the US Energy Initiatives Corp stock to your watch lists.
Key Quote
According to Anthony K. Miller, CEO, “Today we announce that the Company has done what it reported in its December 14, 2021 press release, transferring $10 million dollars of its digital asset into position to be sold. Management hopes that the currency should be sold in the first few months of 2022. The BMCS business plan is designed to provide worldwide holders with an exit strategy for their Sumcoin that will turn their digital currency into US dollars, and receive the fair market value for their assets. When the capital is available, Management will initiate a significant mining operation that encompasses green energy as the source of power. Management has done significant research on this operation and believes that the revenue projections will be outstanding.
Technical Data
USEI stock is trading above the 20-Day and 50-Day Moving averages of $0.0011 and $0.0013 respectively. However, the stock is trading below the 200-Day moving average of $0.0021. The stock is up 50% in the past month.
