There were a number of stock which declined sharply on Wednesday and one of the notable ones in that regard was that of Cytta Corp (OTCMKTS:CYCA), which ended the day with a decline of as much as 11%. In this situation, it ought to be noted that the company was actually in the news yesterday after it made a major announcement and it may be a good idea to take a look into it.
Trading Data
On Wednesday, CYCA stock slid 11% to $0.2180 with 168K shares, compared to its average volume of 87K shares. The stock moved within a range of $0.1950 – 0.2475 after opening trade at $0.2460.
Cytta Corp. Empowers Drones for Building Clearing Operations with North Texas Public Safety Unmanned Response Team
The company announced that its IGAN (Incident Global Area Network) video integration technology had been added into ‘Drone Clear’, a new and innovative protocol meant for law enforcement.
The announcement was a significant one and it could eventually lead to a boost to Cytta Corp, however, investors did not take too kindly to the news. The Drone Clear protocol had actually be developed with the purpose of helping law enforcement personnel with the ability to get the much needed intelligence before they decide to enter any place that may be deemed dangerous. At this point in time, it is going to be interesting to see if the Cytta Corp stock can actually make a recovery over the course of the coming days or not.
Technical Data
CYCA stock is below the 20-Day and 50-Day Moving averages of $0.24 and $0.25 respectively. However, the stock is trading above the 200-Day moving average of $0.20.
