One of the stocks which emerged as one of the more notable gainers on Thursday was the Dear Cashmere Holding Company (OTCMKTS:DRCR) stock. As investors piled on to the stock in a big way, the stock ended the day with gains of as much as 35%.
Considering the magnitude of the gains made by the stock it may be a good idea for investors to consider taking a closer look at the company, its business operations, and the latest developments which may have led to the gains.
Trading Data
On Thursday, DRCR stock moved up 35% to $0.23 with 899K shares, compared to its average volume of 210K shares. The stock moved within a range of $0.1566 – 0.2925 after opening trade at $0.17.
About The Company
Dear Cashmere is involved in the designing, manufacturing, and sales of cashmere apparel which are ready to wear. It offers a wide range of products for both males and females, in addition to clothing accessories.
The products manufactured by Dear Cashmere are mainly marketed in the markets of Hong Kong and China. However, that is not all. Dear Cashmere is also known for operating a mobile ecosystem named Swifty Global which allows its customers to indulge in a range of activities from making sports predictions to taking care of their investments. The company had been established back in 2007 and is based out of Baoding in China.
Swifty Global Announces the Launch of Its Swifty Predictions App in the United Kingdom
As it happens, the company was in fact in the news yesterday after it made an announcement with regards to its mobile ecosystem product Swifty Global. In this regard, it should be noted that Dear Cashmere has managed to come up with two separate applications within the ecosystem. One of those is a mobile app meant for sports predictions, while the other one is a digital wallet. The digital wallet in question provides artificial intelligence-driven solutions and also allows blockchain and crypto transactions.
In this regard, it might be the right time to also consider the fact that Dear Cashmere could well move into the gambling industry in a meaningful way as well through its Swifty Global ecosystem. The company currently holds gambling licenses for Curacao and the United Kingdom.
In addition to that, gambling licenses for many other nations are pending at this point in time. Not too long ago, the company had managed to get its GLI License which is going to allow it to launch the Swifty Predictions swipe betting mobile application. The gambling market is a tightly regulated one and barriers to entry are quite tight as well. A GLI License is absolutely necessary if a company is to operate in the market. The license indicates that the product had been tested successfully and had been certified as being scalable on legal grounds.
However, one of the more important things to keep in mind with regards to the company is that although it has decided to go into the gambling business in a big way, it is not only going to be engaged in that space. In addition to that, the company is going to continue to operate as a provider of software technology and solutions. It remains to be seen if the stock can add to its gains today.
Technical Data
DRCR stock is trading above the 20-Day and 50-Day Moving averages of $0.17 and $0.20 respectively. However, the stock is trading below the 200-Day moving average of $0.79. The company has a total market capitalization of $2.30 million. The stock is down 75% over the past 6-month.
