The previous week was a fairly forgettable one for Fernhill Corp (OTCMKTS:FERN) investors as the company’s stock suffered from a significant selloff and ended the day with a decline of as much as 19%.
Trading Data
On Friday, FERN stock fell 0.47% to $0.0212 with more than 16.32 million shares, compared to its average volume of 20.68 million shares. The stock has moved within a range of $0.0203 – 0.0240 after opening trade at $0.0205.
Fernhill Announces Mainbloq Completion of its Integration with CoinBase’s Prime Services for Institutions
Considering the magnitude of the fall, it might be a good time for investors to figure out if it might actually be an opportunity or not. To that end, one may need to look into a key announcement from the company last Friday. The company announced that MainBloq, its Digital Asset Trading platform, had carried on with its expansion of its connectivity lineup.
At this point in time, MainBloq is regarded as one of the leaders in the algorithm trading platform space but the company is now expanding in a big way in order to become an option for institutional entities as well. At the end of the day, it should be noted that institutional clients are the big ticket entities which can propel such a platform to a different level.
Hence, the announcement from the company was a significant one. Despite the poor performance from the stock in the past week, it may be a good idea to add the Fernhill stock to your watch lists.
Key Quote
MainBloq CEO Ryan Kuiken commented “We could not be more excited to bring this integration to fruition. Having access to dozens of pre-built exchange offerings is one of the many reasons institutional investors choose to utilize MainBloq and given the high visibility of CoinBase Prime, this particular integration proved to be one of the most highly valued to serve clients globally.”
Technical Data
FERN stock is trading below the 20-Day and 50-Day Moving averages of $0.0237 and $0.0275 respectively. However, the stock is trading above the 20-Day moving average of $0.0196.
