The past few days have been quite tough for investors in One World Universe Inc (OTCMKTS:OWUV) since the stock has suffered from a significant selloff and continued to bleed. Last Friday, the selloff in the stock intensified and it ended the day with a decline of as much as 17%.
Trading Data
On Friday, OWUV stock fell 16.96% to $0.2850 with more than 2.97 million shares traded, compared to its average volume of 5.26 million shares. The stock has moved within a range of $0.2822 – 0.3578 after opening trading at $0.3525.
One World Universe’s Newly Created Subsidiary Officially Named Dysfunctional Rehabilitation Limited
That took the losses made by the company in the past week to as much as 32%. The company, which is known for investing in range of emerging businesses, including the Metaverse, announced on Friday that is new fully owned subsidiary company involved with listed companies on Expert Market will be named Dysfunctional Rehabilitation Limited.
While it is true that the announcement marks a move into a new space altogether for One World Universe, the news did not lead to any particular optimism among investors. The stock continued to suffer like in the previous days and had a steep selloff.
One World noted that it was going to generate revenues from the subsidiary through a fixed fee or through equity in the companies that the subsidiary would be rehabilitating. It is however going to be interesting to see if the stock manages to rebound any time soon.
Key Quote
“My most recent Expert Market company KAT Exploration Inc., where I am currently interim CEO, is a prime example of a successful transition as it was brought pink current last week. I can clean up dysfunctional public companies that need rehabilitation and get them back up and trading. Once I have them meet all necessary regulatory requirements, I can get them back current and prep them for a possible reverse merger. The recent rule change this past September has created a great opportunity for me to use my expertise and benefit One World,” stated Caren Currier CFO of OWUV.
Technical Data
OWUV stock is trading above the 50-Day and 200-Day Moving averages of $0.17 and $0.06 respectively. However, the stock is trading above the 20-Day moving average of $0.32.
