It was not a great day in the markets for the GNCC Capital Inc (OTCMKTS:GNCP) stock as it suffered from a strong selloff and went down by as much as 25% for the day.
Trading Data
On Monday, GNCP stock slumped 25% to $0.0002 with 373.38 million share, compared to its average volume of 238.54 million shares. The stock has moved within a range of $0.0001 – 0.0002 after opening trade at $0.0001.
Major Trigger
While the decline in the stock was sharp, it should also be noted that yesterday GNCC Capital had come into focus after the company announced that it was going to issue clarifications with regards to a number of requests made by shareholders regarding a range of subjects. The company noted that it was aware that a large number of shareholders are now seeking information on a wide variety of issues with regards to GNCC Capital.
The company went on to add that it appeared that many shareholders were not particularly sure about the growth strategy at GNCC Capital and that had led to an erosion of confidence. GNCC Capital noted that its directors were engaged in working on a response that was going to provide a detailed explanation to all investors concerns.
The communication will be made available to the shareholders on January 21, 2022. However, the update may not have come as a source of any encouragement to investors and hence, it was perhaps no surprise that it tanked.
Technical Data
GNCP stock is trading below the 20-Day and 50-Day Moving averages of $0.0002 and $0.0002 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.0006.
