TGI Solar Power Group Inc (OTCMKTS:TSPG) Stock Pulls Back On Profit Booking

The past month has been a fairly rough ride for TGI Solar Power Group Inc (OTCMKTS:TSPG) as the stock went into a downward spiral and the trend continued yesterday as it declined by another 15%. The fall in the stock on Thursday took the decline for the past month to as much as 43%. If a stock goes into such a decline, it is necessary for investors to work out if the slide is going to continue or if there is any chance of the stock making a quick recovery.

Trading Data     

On Thursday, TSPG stock moved down 14.89% to $0.0040 with more than 807K shares, compared to its average volume of 957K shares. The stock moved within a range of $0.0035 – 0.0047 after opening trading at $0.0047.

About TGI Solar Power Group

The company is involved in providing its customers with management tools as well as resources that can help with on-demand, real-time staffing services, and supply of personnel based on projects.

In the past, the company had been known as TenthGate International Inc, but back in June 2008, it had changed its name to TGI Solar Power Group Inc. The company had originally been established back in 1967 and is based out of Ewing in New Jersey. It should also be noted that the company is also involved in the real estate development space and other spaces.

ADVENT GALAXY INC. Home of ADVENTEXPO™, Subsidiary of TGI Announces It Plans File to Launch a Reg A Public Offering.

Yesterday, TGI Solar Power announced that it launched the AR/VR ADVENT EXPO metaverse and in addition to that also developed a native non-fungible token (NFT) Galleries. Advent Galaxy Inc is a fully owned subsidiary unit of TGI Solar Power and it was Advent that made the announcement with regards to the latest project.

Advent Galaxy announced that it was going to submit a filing to the United States Securities and Exchange Commission for the launch of a public offering by way of which it plans to raise a total of $75 million.  Samuel Epstein, who is the Chief Executive Officer of TGI Solar Power noted that since the Advent Galaxy brand has continued to grow and hence, it has been necessary to raise further capital. The latest announcement is an important one from Advent Galaxy and it is going to be interesting to see how the whole thing progresses over the coming days.

Key Quote

TGIs. COO Samuel Epstein stated, “As our ADVENT brand gains traction, we have been looking at efficient pathways to raise capital with like-minded US investors and for International investors, other registration might be required, who see the growing metaverse market opportunities as we do. A Reg A offering will allow us to access those investors and provide us with the resources to continue driving our growth and filling unmet market needs.”

Technical Data

TSPG stock is trading below the 20-Day and 50-Day Moving averages of $0.0039 and $0.0045 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0058.