Advanced digital technology platform operator Cyberlux Corporation (OTCMKTS:CYBL) saw its stock suffer from a bit of a selloff yesterday as it ended the day with a decline of as much as 4%. As it happens, the company was actually in the news yesterday after it announced that Kreatx Group, which is part of the Digital Platform Solutions unit at Cyberlux, had managed to bag a tender.
Trading Data
On Monday, CYBL stock fell 3.62% to $0.0147 with more than 24.70 million shares, compared to its average Monday of 39.34 million shares. The stock moved within a range of $0.0141 – 0.0168 after opening trade at $0.0159.
Key Development
The company won a tender by way of which it was going to provide new digital solution to the Judicial Court System of Albania so that the case management systems as well as the court public records could be modernised.
It goes without saying that it was a major announcement from the company and one that could unlock considerable value in the future. The contract is valued at $625,000 at an initial level. Kreatx also noted that the systems are going to be completely implemented all across the 38 district courts by the time the end of this year comes along. However, the company also added that more contracting could be forthcoming from the same client when the Judicial System digital transformation process eventually takes place.
Technical Data
CYBL stock is trading above the 20-Day and 50-Day Moving averages of $0.0145 and $0.0144 respectively. However, the stock is trading below the 200-Day moving average of $0.0219.
