There has been a fair degree of volatility in the KYN Capital Group Inc (OTCMKTS:KYNC) stock in recent times. While it is true that the stock was on the up on Friday and ended up with gains of 6% for the day, it ought to be noted that it had actually ended the week with a loss of 21%.
Trading Data
On Friday, KYNC stock moved up 5.71% to $0.0037 with 46.09 million shares, compared to its average volume of 68.63 million shares. The stock moved within a range of $0.0032 – 0.0039 after opening trade at $0.0036.
KYN Capital Group Closes Definitive Deal with Asia Broadband to Implement the AABB Wallet
However, despite the significant moves in the stock, it is perhaps important to point out that there has been no news at all about KYN Capital Group in the past week. As a matter of fact, the last time the company had come into the news cycle was back on February 8 this year.
At the time the company announced that it had executed a definitive deal with the company Asia Broadband. As per the provisions of this deal, KYN Capital is going to deploy the AABB Wallet as the main cryptocurrency exchange in is Pay How Super App.
The announcement was a significant one at the time for KYN Capital Group. However, it is difficult to say whether the current moves in the company’s stock and this developed are actually linked. It may be a good idea to wait for further news.
Key Quote
“We are extremely excited about our partnership deal closing with Asia Broadband and what it means for KYN Capital Group,” states Rick Wilson, CEO of KYN Capital Group.
Technical Data
KYNC stock is below the 20-Day and 50-Day Moving averages of $0.0046 and $0.0058 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0109.
