Sonasoft Corp (OTCMKTS:SSFT) Stock In Bearish Trend: What’s The Buzz?

It is that time of the year again when more and more companies provide an update with regards to their achievements in the previous year and chart out the targets for the upcoming year. Yesterday, it was Sonasoft Corp (OTCMKTS:SSFT) which was in the news after it provided such an update.

Trading Data

On Thursday, SSFT stock fell 4.30% to $0.0467 with more than 413k shares, compared to its average volume of 586k shares. The stock has moved within a range of $0.0455 – 0.0500 after opening trade at $0.0476.

Major News

The company, which is best known for SAIBER or the Sonasoft AI Bot Runtime Engine noted that it had ended 2021 on a strong note. In addition to that, the company also pointed out that in 2021 it had also managed to ink a new strategic partnership and had started focussing again on end to end Artificial Intelligence projects.

While these were all significantly positive pieces of news, it did not lead to any optimism about the stock from among investors. The Sonasoft Corp stock actually suffered from a decline and ended the day with a decline of as much as 4%.

However, it is necessary for investors to note that the company did state in its update that it is in a strong position for further growth in 2022. It could still be a good move to add the Sonasoft Corp stock to your watch lists.

Technical Data

SSFT stock is trading below the 20-Day and 50-Day Moving averages of $0.0495 and $0.0567 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0860. The stock is down 47% in the past 6-month.