It was a difficult time in the markets yesterday for investors in the V Group (OTCMKTS:VGID) stock as it suffered from a strong selloff and ended up with a decline of as much as 18% for the day. While the decline in the stock may be alarming, it is also necessary to note that the company actually made a key announcement yesterday and that is something investors could do well to look into.
Trading Data
On Tuesday, VGID stock slumped 18.18%% to $0.0009 with more than 546.61 million shares, compared to its average volume of 118.61 million shares. The stock has moved within a range of $0.0007 – 0.0012 after opening trade at $0.0010.
V Group Announces New Acquisition
The company announced yesterday that it had been successful in closing the acquisition of a company which is involved in the In-Home Care Industry. It is a highly lucrative industry and one that could help the company in generating significant growth in the future.
The company noted that the acquisition of Happy Hearts Today had actually been completed back on January 21, 2022. It is a concierge in-home companionship and healthcare company and over the years, it has proven its capabilities beyond doubt. At this point in time, it may be a good time for investors to add the V Group stock in their watch lists and keep an eye on the developments over the course of the coming weeks closely.
Technical Data
VGID stock is below the 20-Day and 50-Day Moving averages of $0.0012 and $0.0011 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0013.
