In the past few months, capital markets have been depressed, with investors making massive losses as the global economy continues to struggle with the impacts of supply chain problems and inflation. As a result, most investors have shied away from equities, but there are opportunities to take advantage of by buying in the dip currently. One stock that is presenting a buying opportunity now is VSBLTY Technologies Corp (OTCMKTS:VSBGF), which is down 24% in a month, presenting an opportunity to buy on the dip.
Trading Data
On Wednesday, VSBGF stock fell 0.98% to $0.2814 with 216k shares, compared to its average volume of 169K shares. The stock moved within a range of $0.2542 – 0.2940 after opening trade at $0.28. Over the past 52-week, the stock has been moving within a range of 0.2710 – 1.6000,
About VSBLTY
The Philadelphia-headquartered VSBLTY I is among the leaders in Proactive Digital Display, which transform public and retail spaces and place-based media networks using SaaS-based security and audience measurement that employs AI and machine learning. Its novel technology integrates with various retail solutions that include mobile applications and QR codes.
The company is also popular for its leadership responsibility in the expanding Stores as a Medium initiative enabling brands to access customers where and when buying decisions are made while establishing a new revenue source for retailers.
Recent News
The company recently announced the signing of an agreement letter with Echelon Wealth Partners Inc. for sale through a marketed short form prospectus offer on a commercially reasonable efforts agency basis around 16.667 million of the company’s units at 0.3 per Unit for total proceeds of $5 million.
The firm has submitted and received a preliminary short form prospectus receipt with respect to the Offer with the securities commissions of Alberta, British Columbia, Ontario, and Saskatchewan. Each Unit comprises a common share and an equivalent common share purchase warrant. Warrant holders will be entitled to purchase one common share at an exercise of $0.5 per common share for 36 months from the date of closing.
Additionally, the company is also undertaking a concurrent non-brokered private placement of around 10 million units for total proceeds of $3 million. The company will use the Offering and concurrent non-brokered Private Placement proceeds for working capital, capital expenditures, marketing and sales, research and development, and general corporate uses s spelled out in the Preliminary Prospectus.
The Agent shall receive compensation comprised of cash and securities of the Company upon closing of the Offering. The Offering and Concurrent Private Placement are expected to close on or about July 21st, 2022, or such other date as the Company and the Agent may agree, subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.
Technical Data
Technical indicators are not good for the stock with all the major indicators signaling a weakness.
VSBGF stock is trading below the 20-Day and 50-Day Moving averages of $0.31 and $0.36 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.69. The stock has a pivot point of $0.2765. Key pivot point supports are $0.2193, $0.2367, and $0.2591. Moreover, the Key pivot point resistance is $0.2989, $0.3163, and $0.3387.
The company has a total market capitalization of 58.531 million with 207.96 million outstanding shares. Moreover, the company has 84.32% or 175.35 million floating shares. The stock is down 42% over the past 3-month.
