Sometimes even positive developments can’t come to the rescue of stocks which may have been in the middle of a downward spiral anyway. That is what was seen in the Valiant Eagle Inc (OTCMKTS:PSRU) stock yesterday.
Trading Data
On Monday, PSRU stock went down 5.56% to $0.0017 with more than 41.21 million shares, compared to its average volume of 32.35 million shares. The stock has moved within a range of $0.0013 – 0.0022 after opening trade at $0.0019.
Recent News
Despite a significant announcement, the stock declined by 5% and stretched the losses over the course of the past week to as much as 15%. Yesterday, Valiant Eagle announced that by way of its subsidiary company Providence Film Group it had signed up a second film development agreement the company New Republic Pictures, popularly known as NPR. The globally renowned founder and film maker of NPR, Brian Oliver is also part of the agreement.
The collaboration between the Providence Film Group is going to be about the biopic that NPR is looking to produce on the American socialite Zelda Fitzgerald. It is a project that could bring in considerable attention, since the subject was the wife of the writer Scott F Fitzgerald and one of the leading socialites of the 1920.
In addition to that, super star Jennifer Lawrence has agreed to portray the role. Despite such a significant announcement, there was no change in fortunes for the Valiant Eagle stock on Monday.
Technical Data
PSRU stock is below the 20-Day and 50-Day Moving averages of $0.0021 and $0.0024 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0051.
