The Cytta Corp (OTCMKTS:CYCA) stock was in the midst of a downward spiral on Monday and ended up with a decline of as much as 14% amidst a strong selloff. In this regard, it may be a good idea for investors to take a look at the events from yesterday and figure out if a recovery could be on the cards.
Trading Data
On Monday, CYCA stock slid 14.30% to $0.24 with 96K shares, compared to its average volume of 96K shares. The stock moved within a range of $0.2310 – 0.2750 after opening trade at $0.2750.
Key Details
The company made an announcement with regards to the Initial Research Report that had been published recently by WallStreet Research. WallStreet Research is a firm which has been in business for four decades and is regarded as one of the top research firms.
The research report by WallStreet Research by Cytta Corp provided a glimpse into some of the recent milestones that had been hit by the company. In addition to that, the report also looked into the growth plans of the company for 2022 and for the years beyond that.
On the other hand, the report also looked into the future of the company which might be heavily dependent on the IAGN software that has been developed by Cytta Corp. While the news about the report did not seem to please investors it will be interesting to see if the stock rebounds today.
Key Quote
Mr. Alan Stone, CEO of WallStreet Research™ has stated: “We are pleased to announce the initiation of research coverage on Cytta Corp. The Company has created IGAN, a superb incident command system software, that is well positioned for rapid growth as it expands its customers in the US. Markets include police depts., fire depts., the military, municipalities, and others. The WSR report includes discussion of the various product offerings and highlights the Company’s growth potential. The WallStreet Research™ analyst team included three top ranked analysts.”
Technical Data
CYCA stock is above the 20–Day and 50-Day Moving averages of $0.22 and $0.23 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.21.
