Diversified technology firm Affluence Corporation (OTCMKTS:AFFU) was on the radars of many investors yesterday and hence, it was perhaps not a surprise that the stock had managed to clock gains of as much as 8% for the day.
Trading Data
On Wednesday, AFFU stock moved up 8.33% to $0.0650 with 174K shares, compared to its average volume of 157K shares. The stock moved within a range of $0.0650 – 0.0858 after opening trade at $0.0650.
Affluence Corporation Gives Updates on First Quarter Projects
The stock rallied after the company provided an update in relation to two significant projects that had been deployed its fully owned subsidiary company OneMind Technologies. The projects in question had been deployed in the first quarter of this year. The Chief Executive Officer of the company James E Horan Jr spoke about the projects.
He noted that the team at OneMind Technologies had managed to make considerable progress when compared to the objectives that had been set in the first quarter. He went on to note that the completion of the Department of Tourism Project for the province of QuangNing in Vietnam had actually been accomplished by OneMind.
Due to the success of that particular project, the company has been contracted to work on similar projects throughout Vietnam. It goes without saying that it was a major new announcement from the company and one that is likely to keep the Affluence Corporation stock on the radars of investors.
Key Quote
“The OneMind Technologies team has made significant progress against all of its objectives in the first quarter,” said James E. Honan, Jr., Affluence’s CEO. “OneMind has completed the Department of Tourism Project for Quang Ninh Province in Vietnam and because of the success of the implementation OneMind is in the process of being contracted throughout Vietnam. OneMind is also making great strides on completing Phase 1 requirements of the Command and Control Project for one of the world’s largest Smart City Projects in the Middle East. We expect to complete Phase 1 in the Second Quarter and begin Phase 2 in the second half of the year,” said Honan.
Technical Data
AFFU stock is trading below the 20-Day and 50-Day Moving averages of $0.0673 and $0.0687 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1420.
