Health and wellness firm Alkame Holdings Inc (OTCMKTS:ALKM) may have been trading in a range yesterday but at the same time investors ought to keep in mind that the company was in the news yesterday.
Trading Data
On Thursday, ALKM stock ended flat at $0.0007 with 88.81 million shares, compared to its average volume of 29.34 million shares. The stock moved within a range of $0.0006 – 0.0008 after opening trade at $0.0007.
Alkame Holdings Inc. Announces Reduction of $1,000,000 of Overall Debt
The company announced yesterday that it had managed to cut down its total debt by another $500,000 and it goes without saying that it was a major announcement. However, that did not lead to much cheer from investors and the stock continued to trade in a range. It will be interesting to see if the stock does get some traction today or not.
Alkame Holdings has been quite active in its quest to reduce its debts and liabilities in recent times with the view of strengthening its balance sheet. The company has managed to cut down its debts by as much as $1,000,000 in just under eight months and it remains to be seen if Alkame can be just as active in the future with regards to cutting down debt.
Robert Eakle, who is the Chief Executive Officer of the company noted that Alkame was focussed on reducing debts progressively with the view of positioning the company for future growth.
Key Quote
Robert Eakle, Alkame CEO states, “We actively continue to reduce debt and position our company for further growth. Stay tuned, many good things to announce very soon.”
Technical Data
MSTO stock is trading below the 20-Day and 50-Day Moving averages of $0.0007 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0012.
