It is often noticed that stocks end up making big moves despite there being no material news about the companies and that is what happened with the Hop-On Inc (OTCMKTS:HPNN) stock on Thursday. The Hop-On stock experienced heavy action yesterday and ended the day with gains of as much as 21%.
Trading Data
On Thursday, HPNN stock surged 21.43% to $0.0017 with more than 80.16 million shares, compared to its average volume of 21.76 million shares. The stock moved within a range of $0.0010 – 0.0017 after opening trade at $0.0013.
Digitalage Introduces YOYO™, its Proprietary Social Media Data Portability Transfer Tool
While it is true that many investors might feel that the rally was speculative in nature, it may be a good idea to look into a key development from last month at this point in time. Back on April 14, the company announced the introduction of the product YoYo by Digitalage.
The product in question is a data portability content transfer solution, which can help users in downloading all sorts of content from some of the biggest social media websites and then import the same to Digitalage. The platforms which are supported by the tool include YouTube, Instagram, Facebook, TikTok and Twitter.
The company also noted at the time that it was going to be made available right after it is released to the general public. At this point, investors could keep an eye on any news that might emerge with regards to Hop-On.
Key Quote
“Our belief has always been that the user owns their content, and they should be given free rule over what they want to do with it. Big tech has been monetizing user content for their own financial benefit and not the creator’s,” says Curt Doty, CCO of Digitalage, Inc. “We want the user to be in control! We want the user to be the beneficiary of their hard work.”
Technical Data
HPNN stock is below the 20-Day and 50-Day Moving averages of $0.0022 and $0.0027 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0036.
