It must have been a pretty harrowing time for investors in GNCC Capital Inc (OTCMKTS:GNCP) as the stock suffered from a massive selloff on Thursday and ended the day with a decline of as much as 50%.
Trading Data
On Thursday, GNCP stock slumped 50% to close at $0.0001 with more than 126.65 million shares traded, compared to its average volume of 219.51 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trading at $0.0002.
GNCC Capital, Inc. Updates Ahead of Next Week’s Announcements
Yesterday, the company came into focus after it made an announcement with regards to the announcements that it will be making next week. The company referred to a press release that had been published back on January 21, 2022 and noted that the directors at GNCC Capital were committed to the decisions that had been pointed out in that press release.
In the update provided yesterday, the company noted that plenty of shareholders in GNCC Capital had expressed their confusion at the contents of the January 21 press release. However, the company noted yesterday that the announcements that are going to be made next week are going to leave no room for confusion at all.
It may have been a fairly routing announcement from GNCC but it led to a fair bit of panic among shareholders and that may have led to the frenetic selloff in the stock. It now remains to be seen if the GNCC Capital stock can make a recovery today.
Technical Data
GNCP stock is trading below the 50-Day and 200-Day Moving averages of $0.0001 and $0.0002 respectively. However, the stock is trading above the 20-Day moving average of $0.0005.