In the past week, the Brownie’s Marine Group Inc (OTCMKTS:BWMG) stock suffered from a pretty strong selloff and during that period, it declined by as much as 6%. Considering the magnitude of the decline, it could be the right time for investors to look into the development from Friday and then form an idea about the stock.
Trading Data
On Friday, BWMG stock ended flat at $0.0394 with more than 15k shares, compared to its average volume of 92K shares. The stock moved within a range of $0.0393 – 0.0394 after opening trading at $0.0393.
Brownies Marine Group, Inc. (OTCQB: BWMG) wholly owned subsidiary, BLU3, Joins the 1% for the Planet Community
The company announced on the day that its fully owned subsidiary company BLU3 Inc had managed to get into a partnership with 1% For The Planet. The move from the company is directly aimed at helping the planet and for making sure that future generations inherit a planet that is sustainable.
By way of this move, BLU3 is going to donate 1% of the total sales it clocks annually to non-profit organisations which are involved in enhancing the conditions of marine environments all over the globe. The company believes that such a move could make a small dent in its vision of creating a planet that not only sustainable but also healthy.
It was an important announcement from Brownie’s Marine Group but it did not lead to much excitement among investors. It remains to be seen if the stock continues to slide today or not.
Technical Data
BWMG stock is trading below the 20-Day and 50-Day Moving averages of $0.0420 and $0.0388 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0405.
