Universal Systems Inc (OTCMKTS:UVSS) Stock Soars 30%: Here is Why

The interest in Web 3 among investors is increasing by the day and it is perfectly understandable considering the fact that it is considered to be the future of the internet. Plenty of companies that are involved in the sector have got considerable attention in recent times from investors and one of the companies which gained attention last Friday was Universal Systems Inc (OTCMKTS:UVSS).

Trading Data

On Friday, UVSS stock soared 30% at $0.0070 with 623K shares, compared to its average volume of 431K shares. The stock moved within a range of $0.0061 – 0.0080 after opening trade at $0.0075.

About Universal Systems

Universal Systems, which is actually a subsidiary unit of Critical Solutions Inc, is involved in the consultancy space in relation to Web 3. Some of the consulting services that Universal Systems provides are for multimedia production, social branding for music and films, and also distribution. It could well prove to be a lucrative space in the long run and this past Friday the stock experienced a strong rally as it ended up with gains of as much as 30% for the day.

Universal Systems Appoints Alessandro Patti for Chief Technical Officer

At this point in time, Universal Systems is engaged in discussions for creating original music and musical scores for a pair of feature productions. The rally that was seen in the stock last Friday may make it necessary for investors to take a look into recent developments with regard to the company. On Friday, the stock soared after it announced that the company announced that it had made the appointment of a new Chief Technical Officer in the form of AlessanddroPati.

The Chief Executive Officer of the company Andrew Lane spoke about the appointment as well. He noted that the appointment of Pati in the role was a major milestone for Universal Systems considering the fact that he is regarded as one of the biggest leaders worldwide in the field of Web 3 and crypto and Non-Fungible Tokens.

Throughout the course of his career, Pati has been involved in a wide range of blockchain-related projects and brings considerable experience and executive to a vital role. It now remains to be seen if the Universal Systems stock can manage to hold on to its gains and then add further over the course of the coming days.

Mr. Lane states, “The short-term goal for the next six months at Universal Systems, Inc./Digital Distro is to generate profitable revenue streams with upfront consulting fees paid to the company for our Web3 Consulting, Film & Music Production, and Social Brand Influence.  Each one of these revenue streams has a key common component of Royalty Streams. Our focus is to develop a library of assets that provides a 15–20 years stream of royalties for our shareholders.”

Technical Data

UVSS stock is trading below the 20-Day and 50-Day Moving averages of $0.0070 and $0.0074 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0101.