This past Friday the Giga Metals (OTCMKTS:HNCKF) stock had a fairly tough time in the markets as it suffered from a steep selloff and went down by as much as 11% as a consequence.
Trading Data
On Friday, HNCKF stock plunged 11.50% to $0.2155 with 542k shares, compared to its average volume of 135k shares. The stock moved within a range of $0.2031 – 0.2442 after opening trade at $0.2440.
Giga Metals Announces Listing of Warrants on the TSXV
Despite the steep fall in the stock price it should be noted that the company did make a key announcement on Friday and it could be a good move to perhaps take a look into it. The company announced that as many as 12,535,000 common shares in the company had been accepted for listing on the TSX Venture Exchange. Out of those, 12,075,700 warrants are outstanding and issued and are going to be available for the purposes of trading on the TSX Venture Exchange.
On the other hand, investors also need to be aware of the fact that the above mentioned 12,075,700 warrants had actually been issued by the company back on February 8, 2022 in relation to a marketed public offering. The latest development was a significant one for the company but it clearly did not elicit much of a response from investors. Many investors headed for the exits. However, it will be interesting to see if the stock can actually bounce back.
Technical Data
HNCKF stock is below 20-Day and 50-Day Moving averages of $0.27 and $0.31 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.32.
