Mobile technology and marketing firm Friendable Inc (OTCMKTS:FDBL) has been in the news cycle in recent days and it may be a good time for investors to consider having a closer look into it. That being said, before getting into the recent developments with regards to Friendable, it may be a good time for investors to consider having a better idea about the nature of the company and its operations.
Trading Data
On Monday, FDBL stock ended flat at $0.0003 with more than 49.49 million shares traded, compared to a volume of 106.48 million shares. The stock moved within a range of $0.0002 – 0.0003 after opening trading at $0.0003.
About Friendable
The company’s services are mainly involved with the development and identification of services, brands, and products which could potentially prove to be mass market opportunities. The company also tries to identify products, brands, and services which could have the requisite scalability.
It was back in 2014 that the company published its very first mobile app on the Google Play Store and the Apple App Store. The app in question was a social network and dating app. The app, known as Friendable, proved to be a rousing success as it clocked as many as 10 million downloads and hit the top 10 rankings worldwide. The company had come into the news cycle on Monday after it provided an update with regards to the progress that had been made in the past six months following the acquisitions of the brands FeaturedX and Artist Republik back on January 4, 2022.
Update: Friendable’s 360 Music Artist Platform Generates Increases in Revenue, Website Traffic, and General Artist Interest from January 2022 to Date, Mainly From Its FeaturedX Branded Service
It was announced that after the completion of the acquisitions, the management at Friendable had been successful in concluding a Phase 2 upgrade of FeaturedX. As a result of the upgrade, it had been possible for the brand to clock as many as 270 total gross orders during the past six months.
The gross orders had a valuation of as much as $169865 and the company has been able to collect as much as 17% of the value up until yesterday’s date. The platform had been designed in such a way that it could be possible for artists to have a series of pending orders from those that had been requested. However, Friendable has gone on to improve this process considerably by allowing for upfront payments to the artists. Hence, life has been considerably easier for the artists and at the same time, it also became easier for artists to actually book revenues.
It was further noted by Friendable that FeaturedX has managed to generate significant traction in the past six months and has come up as a steady source of revenue as well. However, it was also noted that one of the main reasons why the brand has managed to emerge as a successful one is because of the fact that the communication tools in place had been upgraded considerably.
The improvements have been brought about in the communication tools between the artists and the company as well as the ones that are in place for communication between the artist who places an order and the featuring artist. In light of the latest revelations, it is going to be interesting to see if the Friendable stock gathers any traction or not.
Technical Data
FDBL stock is trading above the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. However, the stock is trading below the 200-Day moving average of $0.0025. The company has a total market capitalization of $653K. The stock is down 40% over the past month.
