Moon Equity Holdings Corp (OTCMKTS:MONI) Stock Falls After The Development & Launch of Its BitGift® Product

Yesterday, the Moon Equity Holdings Corp (OTCMKTS:MONI) stock was in the middle of a bit of a selloff and ended the day with a decline of as much as 4% as a consequence. Considering the sort of decline in the stock yesterday, investors will probably be hoping for a quick turnaround in fortunes.

Trading Data

On Wednesday, MONI stock moved down 4% to $0.0110 with more than 2.33 million shares, compared to its average volume of 3.43 million shares. The stock moved within a range of $0.0102 – 0.0148 after opening trade at $0.0148.

Moon Equity Holdings Corp. Details Milestones in the Development & Launch of Its BitGift® Product

Yesterday, the company was in the news after it made an announcement with regards to the fact that it had managed to accomplish significant goals en route to the launch of the product BitGift. In this situation, it may be a good idea for investors to take a closer look at BitGift and what it entails.

The company had actually created the BitGift website with the view of providing people with an option by way of which they could gift cryptocurrencies. In addition to that, it also provides the option of a hot wallet for all those sign up for the service. It should be noted that the website also offered a host of other highly innovative features.

The fact that Moon Equity has made progress towards the launch of the service is an important development and one that investors ought to keep in mind.

Key Quote

CEO, Alison Galardi commented, “We feel that The BitGift® product will provide sources of revenue from both B2B and B2C audiences as a marketplace for users to engage with additional products and services.” 

Traders Corner

MONI stock is trading below the 20-Day and 50-Day Moving averages of $0.0131 and $0.0150 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.0448.