If a stock comes into focus among investors then it may be the right thing for investors to consider taking a closer look at the company and then figure out the prospects of the stock. This morning it is fairly likely that the Worldwide NFT Inc (OTCMKTS:WNFT) stock may come into focus among investors owing to a key development this past Friday.
The world of NFTs or non-fungible tokens has grown at a fairly brisk rate over the course of the past year or so and there are now many companies that are operating in that space. If you are interested in stocks in the sector then it may be a good time to take a look into companies like Worldwide NFT.
Trading Data
On Friday, WNFT stock ended at $0.0601 with more than 48.80 million shares, compared to a volume of 3.17 million shares. The stock moved within a range of $0.0540 – 0.1300 after opening trade at $0.0578.
About The Company
Worldwide NFT Inc is mainly involved in making acquisitions in the blockchain and NFT domains. Like other digital assets, NFTs can also be traded since they are financial securities in their own right since it holds specific digital data in a blockchain. Once the ownership of the NFT is recorded on the blockchain it can then be transferred, so that is possible to trade. As it happens, the company was in the news on Friday after it came up with an update for its shareholders. It may now be a good idea for investors to consider taking a look at the specific updates that had been provided by Worldwide NFT.
Worldwide NFT, Inc. Provides Shareholder Update
The company announced that after it had been successful in finally completing its name change and the forward split, it was now waiting for confirmation from the court with regards to the court proceedings with Warwick Calasse, a former officer at the company.
The company had actually canceled the shares that had been awarded to him and Calasse had appealed against the same at the Nevada Supreme Court. Worldwide NFT announced that it was confident with regards to the possible outcome; however, the company did acknowledge that due to the ongoing cou3rt proceedings it would not be possible for it to get into any acquisition or reverse merger agreement with any entity. While that was a significant announcement from the company, it is also necessary to point out that at this point in time there is no pending transaction of that nature.
In this context, it is important to point out that the company has also informed shareholders that they should only rely on the announcements and press releases that are provided by it. On the other hand, any kind of speculation and musing on social media are to be avoided at all times.
However, that was not the only announcement that was made Worldwide NFT on Friday. The company also announced that it had signed up an agreement with Forwardly Inc with regards to the purchase of warrants of the company. According to the announcement made by the company, Forwardly got warrants which would entitle it to pick up as many as 5 million commons in Worldwide NFT at the price of $0.32 a share.
Technical Data
WNFT stock is trading below the 20-Day and 50-Day Moving averages of $0.1968 and $0.1803 respectively. However, the stock is trading below the 200-Day moving average of $0.1247. The company has a total market capitalization of $13.85 million The stock is down 68% over the past month.
