Geopulse Explorations Inc (OTCMKTS:GPLS) is an innovative company, which deploys blockchain development work in the financial services, logistics and communications solutions industries.
Trading Data
On Thursday, GPLS stock slumped 26.12% to $0.0400 with 569K shares, compared to its average volume of 15K shares. The stock moved within a range of $0.0244 – 0.0455 after opening trade at $0.0455.
Geopulse Exploration Provides Shareholder Update
The company provides most of these services to companies involved in the emerging growth niche. Yesterday Geopulse was in the news after the company provided an update to its shareholders. However, it was quite clear that the update was not particularly welcomed by investors and that was apparent when the stock tanked by as much as 26% for the day. It may now be a good move from investors to consider taking a closer look at the update.
The company announced on Thursday that it had inked an agreement with a custodial trust for the proprietary software that Geopulse developed. The custodial trust has been successful in developing an infrastructure that is needed for the issuance, management and tracking of cryptocurrency that is meant for facilitating transactions for merchants. The software from Geopulse is going to help in the running of the whole ecosystem.
However, it seems that investors were not particularly excited about the development and that was possibly the reason that the stock tanked so hard. It remains to be seen if it can make a recovery any time soon.
Technical Data
GPLS stock is above the 20-Day and 50-Day Moving averages of $0.0586 and $0.0645 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0793.
