The action in the premarket trading period can often provide investors with a fair idea about the direction of the market during the actual trading day. By that token, it may be a good idea for investors to perhaps take a closer look at the Meten Holding Group Ltd (NASDAQ:METX) stock this morning.
On Tuesday, METX stock gained 1.07% to $0.1798 with more than 18.17 million shares, compared to its average volume of 65.54 million shares. The stock has moved within a range of $0.1731 – 0.1950 after opening trade at $0.1925.
Meten Holding Group Ltd. Launches the Trial of Metaverse Vocational Education Courses
The Meten stock attracted the attention of investors in premarket trading today and the stock has gone up by as much as 6% so far. Hence, it may be a good idea to consider taking a look at announcement from the Chinese English language training provider on Wednesday.
The company announced yesterday that it had gone into the Metaverse space with the launch of its vocational education courses in the Metaverse. The courses had been launched in December 2021. The announcement was a significant one from the company and is an indication that Meten is looking to establish a presence in the upcoming new wave of technology. The rally in the stock was, hence, understandable.
At this point in time, it may be a good idea for investors to add the stock to their watch lists and keep an eye on the price action in the coming days.
Alan Peng, Chief Executive Officer of Meten Holding Group commented, “We are thrilled about launching the Courses, through which we hope to address the issue of talent shortage in Metaverse and blockchain industry, especially the shortage of Metaverse infrastructure staff, which was an issue we identified in the process of promoting the business.
METX stock is trading below the 20-Day and 50-Day Moving averages of $0.21 and $0.28 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.67.