It was a tough day in the markets for investors in Impact Fusion International Inc (OTCMKTS:IFUS) as the stock experienced considerable selling pressure and ended the day with a decline of as much as 14%.
Trading Data
On Monday, IFUS stock fell 14.45% to $0.0225 with more than 665k shares, compared to its average volume of 1.80 million shares. The stock has moved within a range of $0.0222 – 0.0267 after opening trade at $0.0263.
Supreme Gold Bagasse “Turns Bagasse Trash into a Cash Cow”
Despite the decline that has been recorded by the stock, it may be a good time for investors to actually take a look at the announcement from the company yesterday and then make up their minds one way or another. The company announced yesterday that one of its products, namely Supreme Gold Bagasse, had been featured in a feature in the online bioeconomy daily ‘The Digest’.
It is a pretty big deal for Impact Fusion and its product considering the fact that ‘The Digest’ commands a readership of a massive 5 million. Hence, being included in the feature could eventually lead to greater publicity for the company’s product and then potentially to higher sales. However, the news did not have any impact on the Impact Fusion stock at all and in fact, the stock went into a bit of a downward spiral. It now remains to be seen if the stock can manage to make a comeback today.
Technical Data
IFUS stock is trading below the 20-Day and 50-Day Moving averages of $0.0243 and $0.0243 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0185. The stock is down 6% in the past month.
