This morning the Marketing Worldwide Corporation (OTCMKTS:MWWC) stock is in focus among investors in a big way after the company made a major announcement with regards to its forward split. The company announced today that it had decided to cancel its plans to have a forward split of its common stock and the news came as a source of considerable enthusiasm for investors.
Investors piled on to the Marketing Worldwide Corporation stock after the announcement and sent it soaring by as much as 38% amidst heavy trading. Scanners indicate a substantial short position exists as short covering has begun towards its 52-week High of $0.0212
The trading volumes had also gone up significantly and it is going to be interesting to see if the stock can actually manage to add to its gains through the rest of the day.
Cancels Forward Split to Focus on Expanding Stock Buy Back Programs
The company decided to cancel the forward split of its common stocks after it had got a lot of negative feedback with regards to the move. In addition to that cancellation of the forward split, Marketing Worldwide Corporation also announced that it had decided to expand its stock buyback program.
The company noted that it had decided to expand the stock buyback program with the view of rewarding investors. The announcement of both these steps came as a major positive trigger for the Marketing Worldwide Corporation stock and it has emerged as one of the biggest movers this morning so far.
“By combining the $MNS #Minosis buy-back feature, and the #NaaS passive income investments to the stock purchase pool; we can rapidly increase our stock buy-back power. We also expect the #Minosis token will evolve into a usable currency on some other platforms we are currently testing, which could equate to expanded acquisitions and other product incubation in the near term” Jason Schlenk CEO.
