It was a good for SUTIMCo International Inc (OTCMKTS:SUTI) investors on Tuesday as the stock managed to come into focus in a big way and ended up with gains of as much as 10% amidst heavy interest. Considering the scale of the gains delivered by the stock, it may be a good idea to look into the announcement made by the company yesterday.
Trading Data
On Tuesday, SUTI stock moved up 11.11% to $0.0005 with 307.59 million share, compared to its average volume of 50.83 million shares. The stock moved within a range of $0.0005 – 0.0007 after opening trade at $0.0005.
SutimCo announces blockchain software acquisition and NFT developments
The company announced yesterday that it had been successful in completing the acquisition of a number of software packages and programing. The acquisitions have been made for the purpose of further strengthening the encrypted and secure systems that SumitCo has in place.
In this context, it is also important to point out that the company has also managed to develop codes that are meant for the launching of its own group of cryptocurrencies and NFTs. The company hopes to have its own cryptocurrencies and MJ NFTs in the market at some point in the second quarter of this year. Hence, it is clear to see that the company has ambitious plans and that possibly translated to the wave of optimism with regards to the SumitCo stock among investors on Tuesday.
Key Quote
“Utilizing the safety and security protection associated with “blockchain” technology and related software, will allow SUTI to transact with its clients, suppliers and end users, without the obstacles that is normally associated with Banks and other regulated institutions. As an additional bonus, SUTI will now have its own MJ NFT’s and Cryptocurrencies coming to the market at Q2. This will enhance the company’s asset base, balance sheet and add to the shareholders value!” Explained Edward Vakser, CEO.
Technical Data
SUTI stock is trading below the 20-Day and 50-Day Moving averages of $0.0005 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0012.
