The Beyond Commerce Inc (OTCMKTS:BYOC) stock may have been trading within a range on Tuesday but at the same time it ought to be noted that the company made a major announcement yesterday and investors could take a look into it.
Trading Data
On Tuesday, BYOC stock ended flat at $0.0003 with more than 1.26 billion shares traded, compared to volume of 89.03 million shares. The stock moved within a range of $0.0003 – 0.0003 after opening trading at $0.0003.
Beyond Commerce Signs Letter of Intent to Acquire Electric Built
The company, which is involved in business to business market analytics services and technologies, announced yesterday that it had inked a letter of intent in relation to the acquisition of the company Electric Built. Electric Built is based out of Inglewood in California and could prove to be an important acquisition for Beyond Commerce in the long term.
It was noted by Beyond Commerce that once the acquisition goes through it would have access to the commercial business knowledge of Electric Built exclusively. In addition to that, it would also get exclusive access to the company’s operations and business connections.
On the other hand, it would also have the right to first refusal with regards to purchase of intellectual property, assets and other properties that belong to Electric Built. It may now be a good idea for investors to consider keeping an eye on the Beyond Commerce stock over the course of the coming days.
Key Quote
Geordan Pursglove, Beyond Commerce’s Chief Executive Officer, stated, “We are excited to welcome Remo Weber as our Chief Operating Officer and expect to move this from LOI to definitive agreement over the next few weeks. With this acquisition, our Company continues to expand its expertise, operations and interest in the emergence of the electrification of vehicles.”
Technical Data
BYOC stock is trading below the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0008.
