Frontera Group Inc (OTCMKTS:FRTG) is involved in the technology sector and is primarily involved in the acquisition of companies which generate revenues and also hold intellectual property.
Trading Data
On Thursday, FRTG stock slumped 50% to $0.15 with 2K shares, compared to its average volume of 1.4K shares. The stock moved within a range of $0.1500 – 0.3500 after opening trade at $0.35.
Frontera Brings Hyper-Realistic Experiences to Commercial Metaverse Applications
However, on Thursday, the Frontera stock was one of the biggest losers as it ended the day with a decline of as much as 50% amidst a heavy selloff. In this situation, it may be a good idea to take a look at the actual announcement that led to the selloff. Yesterday, Frontera announced that it had released the MixieHoloport immersive reality framework with Extended Reality (XR) support 3.0 version.
It was a major new announcement from the company but it got a major thumbs down from investors, who headed for the exits in a big way. In this regard, it ought to be noted that the product in question is an award winner.
MixieHoloport XR had actually been given a Product of the Year award by the National Association of Broadcasters not too long ago. The massive selloff in the stock on Thursday may come as a surprise to some but at the same time it may be a good idea to watch out for the recovery.
