Worldwide asset management company Starfleet Innotech Inc (OTCMKTS:SFIO) saw its stock correct sharply yesterday and fall by as much as 12% after having gone through a strong rally. That being said, it is perhaps also necessary to note that over the course of the past week the stock still up by as much as 60% despite yesterday’s fall.
Trading Data
On Wednesday, SFIO stock fell 12.50% to $0.0322 with more than 4.77 million shares, compared to its average volume of 2.29 million shares. The stock has moved within a range of $0.0322 – 0.0430 after opening trade at $0.0397.
SFIO announces $50-M eco-luxury community project in world-renowned Puerto Princesa, Palawan
In order to have a better idea about the fall in the stock yesterday, investors could do well to take a look at the announcement from the company yesterday. Starfleet Innotech announced yesterday that it ended 2021 by inking a joint venture with some Filipino partners.
By way of this joint venture, the company is going to be involved in the building of a state of the art and eco-friendly wellness and health community in Puerto Princesa in Palawan. The property in question is on the bayside and remains one of the world’s most popular Filipino destinations.
Starfleet Innotech is not only going to own the project but also develop it and it is clear to see that it could prove to be a major source of revenues in the year to come. Investors could do well to keep an eye on the Starfleet Innotech stock.
Technical Data
SFIO stock is below the 20-Day and 50-Day Moving averages of $0.0391 and $0.0392 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0641. The stock is down 18% in the past month.
