Mobile technology and marketing firm Friendable Inc (OTCMKTS:FDBL) saw its stock suffer from a fairly strong selloff on Tuesday, as a result of which it went down by as much as 13%.
Trading Data
On Tuesday, FDBL stock decreased 12.73% to $0.0012 with 107.70 million shares, compared to its average volume of 26.38 million shares. The stock moved within a range of $0.0011 – 0.0015 after opening trade at $0.0014.
Friendable’s Fan Pass Live Surpasses 111,000 Artists and Now Featured in Spotlight Article by XLIVE Publication
While the fall in the stock was steep, it is important for investors to perhaps keep in mind that the stock is still up by as much as 20% in the past week. Yesterday, the company had actually been in the news after it announced that its Fan Pass Live and 360 artist platform had managed to clock registrations and sign ups of music artists to the tune of more than 111,000.
It was a major new announcement from the company but it did not lead to much excitement among investors and the Friendable stock suffered from a strong selloff nonetheless.
On the other hand, it was also announced that the Chief Executive Officer of the company had also been reached out by XLIVE and as a result, an exclusive article was going to be published on XLIVE later on in the month. It could be a good idea at this point for investors to keep an eye on the stock and watch for further developments.
Key Quote
“Having been contacted by XLIVE for an interview was a very welcomed opportunity. Their industry knowledge and understanding of the evolving landscape as it relates to artists, their performances and how careers are being launched and managed in this new digital age is paramount. I’m grateful for the opportunity and believe our current market position as well as the opportunity for our platform and 360 solutions have been framed very nicely in the XLIVE article below and look forward to having more artists, fans, and the music industry specifically take notice as our business continues to grow on all fronts,” said Robert A. Rositano, Jr., CEO, Friendable, Inc.
Technical Data
FDBL stock is trading below the 20-Day and 50-Day Moving averages of $0.0015 and $0.0021 respectively. Moreover, the stock is trading below the 200-Day moving average of $00.62.
