Yesterday, FBC Holding Inc (OTCMKTS:FBCD) made a major announcement with regards to an upcoming project but it did not lead to any more in the company’s stock and it remained within a range. However, stocks trading within a range can also break out eventually and hence, investors could do well to take a look into the announcement.
Trading Data
On Tuesday, FBCD stock ended flat at $0.0008 with more than 12.50 million shares, compared to its average volume of 90.76 million shares. The stock has moved within a range of $0.0007 – 0.0009 after opening trade at $0.0008.
FBC Holding, Inc. (FBCD) Announces Development of Upcoming NFT Project
The company announced that it had decided to make plans for developing of a NFT project through Formrunner Apparel Inc, its fully owned subsidiary company. It goes without saying that it was a major announcement, considering the fact that the NFT industry is a highly lucrative one at this point in time.
The project is going to come up in the near term and that is possibly the reason why there was no particular interest in the FBC Holding stock yesterday. Investors are possibly waiting for more information about the company’s project before making a decision about the stock.
Formrunner Apparel noted yesterday that it was going to launch a limited edition line of clothing that is going to offer as many as 100 unique collectible NFTs. At this point, it may be a good move to keep an eye on how the whole thing progresses.
Key Quote
President & CEO Lisa Nelson states, “The newest spring drop is coming very soon, and we can’t wait to release it!” Lisa Nelson also stated, “The amount of revenue that may come from this project is explosive and the team has been working very hard to make this happen!”
Technical Data
FBCD stock is trading below the 20-Day and 50-Day Moving averages of $0.0026 and $0.0065 respectively. Moreover, the stock is below 200-Day moving average of $0.0139.
