Over the course of the past few days, the Global Atomic Corporation (OTCMKTS:GLATF) stock has been suffering through a selloff and the trend continued on Tuesday as it ended the day with a decline of 4%.
Trading Data
On Tuesday, GLATF stock fell 3.78% to $3.31 with more than 99k shares, compared to its average volume of 157K shares. The stock has moved within a range of $3.2999 – 3.4700 after opening trade at $3.45.
Latest News
The decline in the stock yesterday took the decline for the past month to as much as 15%. However, in this situation, it may still be a good move from investors to consider taking a look at the key announcement made by Global Atomic Corporation yesterday. The company noted that the operations have been progressing in a routine manner at BegesaSilvermet Turkey, its Turkish joint venture.
The announcement from Global Atomic Corporation had become necessary after it had been announced by the Turkish Government not too long ago about the conversion of some of the revenues into the Turkish Lira. The company noted that its Turkish subsidiary regularly converts a part of the revenues to Turkish Lira from United States Dollar and hence, the latest announcements are not a cause for concern in any way. While the Global Atomic Corporation continues to perform poorly, yesterday’s announcement may have come as a source of relief.
Technical Data
GLATF stock is trading above the 200-Day and 50-Day Moving averages of $3.14 and $3.20 respectively. Moreover, the stock is trading above the 200-Day moving average of $2.62.
