While there were many stocks which clocked strong gains yesterday, there were many others which declined sharply as well and the Nouveau Life Pharmaceuticals Inc (OTCMKTS:NOUV) stock was in the latter category as it tanked by as much as 14% on Tuesday.
Trading Data
On Tuesday, NOUV stock slid 14.29% to $0.0009 with more than 63.01 million shares, compared to its average volume of 40.35 million shares. The stock moved within a range of $0.0009 – 0.0012 after opening trade at $0.0010.
Nouveau Life Pharmaceuticals, Inc: Custodian Seeking A Merger
Yesterday, it emerged that Alpharidge Cap, which is the custodian of the company, is looking for a merger for Nouveau Life Pharmaceuticals. However, that can only happen after the court dates and once the motions are passed. Hence, it is clear to see that at this point in time there is a degree of uncertainty with regards to Nouveau Life Pharmaceuticals.
The uncertainty may have been the reason behind the drop in the Nouveau Life Pharmaceuticals stock price on Tuesday. That being said, it may be a good idea from investors to consider keeping an eye on the developments in the coming days and then figure out the best course of action with regards to the stock on way or another.
At this point in time, it is going to be interesting to see if the stock can actually manage to make a recovery in the coming days or not.
Technical Data
NOUV stock is below the 20-Day and 50-Day Moving averages of $0.0011 and $0.0012 respectively. Moreover, the below is trading below the 200-Day moving average of $0.0013.
