There were a number of stocks that had managed to make a strong move on Thursday and as the last day of the trading week looms, it may be a time for investors to take a look at some of those stocks. One of the stocks to have managed to make a notable upward move yesterday was that of Axis Technologies Group Inc (OTCMKTS:AXTG), which ended the day with gains of as much as 8%.
In light of those gains, it may be a good time for investors to take a closer look at the stock before the start of trading this morning. However, the best way of going about it is perhaps by getting acquainted with the sort of business that the company is involved with. Following that, one may look into the recent developments that could have had an effect on the company’s stock.
Trading Data
On Thursday, AXTG stock surged 43.59.602% to $0.0069 with more than 2.19 million shares, compared to a volume of 980K shares. The stock moved within a range of $0.0061 – 0.0080 after opening trade at $0.0072.
About The Company
Axis Technologies Group is a listed company that is involved in all aspects of the Decentralized Finance of DeFi. It is involved in the management, development, promotion, and marketing of all the various aspects of the business. The company goes about its business by way of strategic investments, acquisitions, and the investment holdings that it currently holds. The company is involved in opportunities in a range of financial technology, metaverse, NFT, and blockchain projects among others.
AXTG Partner with Save Planet Earth to digitize and plant 100 million trees with NFTs
The company was in fact in the news yesterday and that led to the rally in the stock yesterday. Axis Technologies Group announced that it had gone into a partnership with Save Planet Earth. The partnership in question is for a period of five years and is going to be focused on Axis’s multi-year strategy for the digital carbon offset strategy. The partnership is going to be engaged in planting as many as 100 million trees, which are also going to be digitized into digital assets like NFTs.
In essence, it is going to lead to the digitization of carbon credits and that is one of the major thrusts of the program that the two companies are going to embark upon. Axis Technologies Group has made a commitment to planting as many as 100 million trees in the next three years. On the other hand, Save Planet Earth is going to be involved in implementing ESG products and services marketplace CARBONIS. CARBONIS is a marketplace for digital carbon credit and carbon offset.
Last week, Axis Technologies Group had been in the news as well after it announced that it had appointed Mru Patel as its new Non-Executive Director, who is going to be in charge of some of the company’s new divisions. The new divisions of which Patel is going to be in charge are going to include both digital banking as well as carbon credit projects.
The company noted that Patels’ role is going to be focused on the ESG projects that Axis Technologies Group was going to be embarking on over the near term. It remains to be seen if the Axis Technologies Group stock ends the week with further gains or not.
Technical Data
AXTG stock is trading above the 20-Day and 50-Day Moving averages of $0.0062 and $0.0070 respectively. However, the stock is trading below the 200-Day moving average of $0.0197. The company has a total market capitalization of $1.69 million. The stock is up 43% over the past month.
