Over the course of the past week, there have been plenty of stocks which have managed to come into significant focus among investors and managed to clock substantial gains. One of those is the Stargaze Entertainment (OTCMKTS:STGZ) Stock, which has experienced heavy action during that period and managed to clock gains of as much as 35%.
Trading Data
On Wednesday, STGZ stock fell 0.03% to $0.34 with more 45K shares, compared to its average volume of 141k shares. The stock has moved within a range of $0.2840 – 0.3440 after opening trade at $0.3440.
Stargaze Entertainment Group Inc (STGZ) to Re-Launch VIDNET a Music, Movie and Sports Streaming site
Yesterday, the company had come back into focus after it announced that it was going to launch the considerably successful streaming company VIDNET yet again. It should be noted that the company had actually been founded by Stephen Brown, who is currently the Chief Executive Officer of Stargaze.
Brown spoke about the development yesterday as well. He stated that he was highly excited about launching VIDNET again, especially at a time when the live performance and music industries are struggling in a big way.
He went on to add that the service is not only going to be involved in showing music videos but will also bring back the tradition of video jockeys, as had been pioneered by MTV back I the day. At this point in time it remains to be seen if the development does lead to further rallies in the stock.
Key Quote
“I am very excited to bring back Vidnet as the music and live concert business is struggling with the many issues for live performance and Vidnet not only will stream many music videos it will bring back live VJ’S as they did at MTV along with streaming live concerts and select movies and trailers, said Stephen Brown the founder of Vidnet and CEO of Stargaze Entertainment Group.The company is currently building www.vidnettv.com and will launch in the first quarter of 2022.
Technical Data
STGZ stock is trading above the 20-Day and 50-Day Moving averages of $0.2737 and $0.1660 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.1371. The stock is down 79% in the past month.
