Innovative bioscience firm Boon Industries Inc (OTCMKTS:BNOW) saw its stock go into a selloff mode yesterday and thereby ending up with a decline of as much as 10% for the day. In this regard, it ought to be a good idea for investors to actually take a look at the development from yesterday that led to the selloff.
Trading Data
On Tuesday, BNOW stock slid 10% to $0.0009 with 51.57 million shares, compared to its average volume of 98.87 million shares. The stock moved within a range of $0.0009 – 0.0010 after opening trade at $0.0009.
Boon Industries Announces Filing of Annual Report on Form 10-K with the Securities and Exchange Commission
The company announced yesterday that it had been successful in filing of an Annual Report to the United States Securities and Exchange Commission on Form 10-K. It was for the fiscal year that had ended on December 31, 2021.
It was a momentous occasion for the company considering the fact that it was the first such report that was filed by Boon Industries after it had come under the provisions of the reporting requirements laid down in the Securities Exchange Act of 1934.
It should also be noted that back on February 14 this year, the company’s registration statement filed with the SEC had also become effective. At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and watch out for any kind of recovery.
Key Quote
“We are pleased to have filed our first 10-K with the SEC,” stated Justin Gonzalez, CEO, Boon Industries. “Taking this step in reporting and transparency has been an important goal of management. While 2021 was a challenging year in which shareholders experienced dilution due to our necessary fundraising efforts, we look forward to growing the Company’s revenue in 2022 which would reduce our need to engage in dilutive financings.”
Technical Data
BNOW stock is below the 20–Day and 50-Day Moving averages of $0.0013 and $0.0016 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0065.
