Premium luxury good providing company SFLMaven Corp (OTCMKTS:SFLM) saw its stock take a bit of a beating on Tuesday. Amidst a heavy selloff in the stock, it tanked by as much as 15% for the day. Despite the decline in the stock price, it ought to be noted that on Tuesday the company had actually made a fairly positive announcement.
Trading Data
On Tuesday, SFLM stock moved down 15% to $0.0017 with more than 79.43 million shares, compared to its average volume of 12.23 million shares. The stock moved within a range of $0.0016 – 0.0021 after opening trade at $0.0021.
SFLMaven Posts Weekly Sales of $305k+ Driven by $266k in “Famous Thursday Night Auction” Sales
SFLMaven announced yesterday that it had managed to generate continuous growth thanks to the strong weekly sales performance. The company noted that the Famous Thursday Night Auction that had taken place last week had actually proven to be one of the most successful ever.
The auction event managed to draw considerable sales and helped SFLMaven in generating sales of more than $300000 for the whole week. While these numbers were certainly notable, it should be noted that it did not lead to any particular enthusiasm from investors and in fact, the stock tanked hard as many investors headed for the exits.
Despite the decline on Tuesday, it is going to be interesting to see if the SFLMaven stock can actually make a comeback over the course of the coming days or not.
Key Quote
“We have come out of the gate with a bang this year, with a terrific first month of the year capped off by one of our best Thursday Night Auction events on record,” noted Joseph Ladin, CEO of SFLMaven.
Technical Data
SFLM stock is trading below the 20-Day and 50-Day Moving averages of $0.0018 and $0.0020 respectively. Moreover, the stock is above 200-Day moving average of $0.0039.
