The TPT Global Tech Inc (OTCMKTS:TPTW) stock was in the middle of a sharp selloff yesterday and ended up with a decline of 9% as a consequence. While the decline was sharp, it is perhaps also necessary for investors to keep in mind that the stock is still up by as much as 33% in the past week.
Trading Data
On Thursday, TPTW stock fell 9.58% to $0.0059 with more than 15.63 million shares, compared to its average volume of 3.66 million shares. The stock moved within a range of $0.0106 – 0.0154 after opening trade at $0.0140 .
Recent News
However, in light of the fall yesterday, it may be a good time for investors to take a look into the announced from yesterday. TPT Global Tech announced yesterday that it was looking to get into a partnership with the City of Tuskagee Alabama for the purpose of investing in the operation, development and management of a ‘smart city’.
It was also announced that the joint partnership land is going to be provided by The City of Tuskagee. In addition to that, the company also announced that it was going to get a wide range of benefits starting from grant financing to new tax credits in case the deal does go through. While the announcement was an important one, it seems that investors were not fully happy about it and hence, the stock possibly suffered from a selloff.
Technical Data
TPTW stock is trading below the 50-Day and 200-Day Moving averages of $0.0112 and $0.0163 respectively. However, the stock is trading above the 20-Day moving average of $0.0096.
