Masterbeat Corporation (OTCMKTS:MSTO), which is well known for being active in the acquisition of tangible assets like real estate, vintage cars and other assets, did not have a particularly great time in the markets over the past week. During that period, the stock tanked hard and went down by as much as 13% as a consequence.
Trading Data
On Thursday, MSTO stock fell 2.33% to $0.0021 with more than 76.95 million shares, compared to its average volume of 19.19 million shares. The stock moved within a range of $0.0020 – 0.0025 after opening trade at $0.0022.
MasterBeat Corporation’s SBQ Holdings Acquires 5th Parcel of Land in Santa Rosa Beach Florida Inline with Its $40 Million Revenue Strategy
Yesterday, the company was in the news once again after it announced that it acquired the fifth parcel of land for a consideration of $450,000. The parcel is located in a premium are of the city of Santa Rosa Beach in Florida.
Masterbeat intends to build high end vacation properties at the location and further boost its real estate portfolio. In this regard, it ought to be noted that Masterbeat has made plans to acquire several parcels of land through the course of 2022. It intends to build its vacation style homes that have generated considerable demand.
This is part of the company’s plans to eventually generate annual revenues to the tune of as much as $40 million to go along with profits of $20 million. It now remains to be seen if the stock can actually make a recovery any time soon.
Key Quote
“As stated in prior press releases, we fully intend to acquire an additional 10 land parcels in 2022 on the Florida Panhandle, with this being the first of those 10 properties, which are in addition to the properties we already have in our portfolio. These 10 properties will give us the potential to generate over $40 Million in revenue with over $20 Million in profit, without factoring in anticipated market nor asset appreciation, or properties already within our portfolio,” stated Josh Tannariello, CEO of Masterbeat Corp.
Technical Data
MSTO stock is trading below the 20-Day and 50-Day Moving averages of $0.0025 and $0.0026 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0033.
