TPT Global Tech Inc (OTCMKTS:TPTW) was in the news yesterday after the company made a key announcement with regard to one of its projects but it did not come as a boost for its stock, which was recorded a decline of as much as 7% for the day.
Trading Data
On Tuesday, TPTW stock fell 7% to $0.0075 with 1.36 million shares, compared to its average volume of 2.99 million shares. The stock moved within a range of $0.0070 – 0.0082 after opening trade at $0.0082.
Key Details
The company announced that it had officially commenced its ‘Smart City initiative after it executed the Real Estate Sales Agreements with regard to the acquisition of as much as 135 acres of land in the town of Tuskegee in Alabama. It goes without saying that the announcement was a significant one from TPT Global Tech but it seems that it did not impress the investors much.
The total landmass consists of two separate parcels of land. One of those spans an area of 45 acres and is located near Tuskegee Lake, while the other is an 85-acre parcel that is situated on route 80.
The company is going to pay a total of $1.7 million for the entire transaction and to that end, TPT Global Tech has already made a down payment of as much as $10,000 to the owner of the land.
Technical Data
TPTW stock is trading below the 20-Day and 50-Day Moving averages of $0.0084 and $0.0090 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0149.
