Yesterday, the Exxe Group Inc (OTCMKTS:AXXA) stock managed to stage a bit of a recovery after having been down in the dumps in the previous days and ended the day with gains of as much as 5%.
Trading Data
On Thursday, AXXA stock gained 5.33% to $0.0632 with more than 11.36 million shares, compared to its average volume of 16.43 million shares. The stock has moved within a range of $0.0601 – 0.0679 after opening trade at $0.0605.
Exxe Group Launches New Entertainment-Centric Digital Footprint in Metaverse Initiative
While the recovery may be a source of encouragement for many investors, it is also necessary to point out that in the past week the Exxe stock is still down by as much as 21%. In this context, it may be a good idea to take a look at the development from yesterday in order to get a better idea about the rally that was seen in the fintech stock.
The company announced yesterday that it had decided to launch a fresh digital footprint that is meant to be a part of the Metaverse Initiative. The new launch is going to be focussed on entertainment and is going to provide the option of some of the most popular as well as lucrative content.
The big move into the Metaverse space may have led to the optimism among investors yesterday and it now remains to be seen if the stock can continue to add to its gains today.
Key Quote
Dr. Eduard Nazmiev, Exxe Group CEO commented on the Metaverse opportunities in 2022. “Exxe also plans to drive community mobilization led by artists and popular figures in the entertainment world. This diversified strategy of Metaverse growth through building its own assets and offering cutting-edge digital services in entertainment and payment processing is designed to grow Exxe’s status, reach and value, along with recurring revenue. We also plan to serve as an owner and operator ourselves via property and other asset acquisitions and leverage our community building which should drive revenue across the board.”
Technical Data
AXXA stock is trading above the 20-Day and 50-Day Moving averages of $0.0599 and $0.0393 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0393.
