Despite making a major announcement yesterday, the VYRE Network (OTCMKTS:CAPV) stock could not reverse the downward trend and ended the day with a decline of as much as 13%. As a matter of fact, the decline in the stock on Tuesday took its decline over the course of the past week to a staggering 25%.
Trading Data
On Tuesday, CAPV stock ended down by 12.70% to $0.2270 with more than 225k shares, compared to its average volume of 159K shares. The stock has moved within a range of $0.2100 – 0.2840 after opening trade at $0.2585.
VYRE Network Welcomes Donnell Rawlings as Senior Content Advisor for Its Comedy Channel Unnecessary Humor TV
However, in this situation, it should also be noted that such a decline can often be an opportunity for new investors as well. Yesterday, the company announced that popular comedian Donnell Rawlings has been roped in as the Senior Content Advisor of its Unnecessary Humor TV comedy channel.
The channel in question is streamed on the VYRE App. It goes without saying that the addition of Rawlings in his own role is expected to create a new wave of interest in the content that is offered by the network. Hence, it could be said that it is a fairly positive development. Donnell is going to be responsible for content curating when it comes skits, comedy shows, movies and TV series among others.
However, the investors did not react to the news kindly yesterday. You could keep an eye on the VYRE stock today to see if there is a change in fortunes.
Key Quote
“Donnell is a favorite on the comedy scene in both TV and stand up. This partnership was a no-brainer for us. His wit and industry experience will help turn Unnecessary Humor TV into the next comedy powerhouse. We are anxious to hit the ground laughing” – Lamar Seay, COO
Technical Data
CAPV stock is below the 10-Day and 20-Day Moving averages of $0.3130 and $0.2544 respectively. However, the stock is above the 200-Day moving average of $0.0507.
