Why Did BoxScore Brands Inc (OTCMKTS:BOXS) Stock Fall 9% On Friday?

There is now considerable interest in the renewable energy sector and for good reason too, considering the backing it has got from the United States government. One of the renewable energy stocks which you could consider looking into today is that of BoxScore Brands Inc (OTCMKTS:BOXS).

Trading Data

On Friday, BOXS stock fell 9.48% to $0.0105 with 3.91 million shares, compared to its average volume of 1.42 million shares. The stock moved within a range of $0.0090 – 0.0115 after opening trade at $0.0115.

BoxScore Brands, Inc. Retains Global Leader RESPEC Company as its Geotech, Engineering, and Resource Management Partner

The company is involved in the extraction, manufacturing, refining, and distribution of precious minerals which are of a technical nature. This past Friday BoxScore Brands was in the news after it provided a key corporate update. The company announced on that day that it was going to continue to focus on the Lithium Valley project.

The Chief Executive Officer of the company Sebastian Lux spoke about the situation as well. He noted that the demand for lithium had hit a historic high. Hence, the company was highly excited about the advancements that it had managed to make with regard to the research into its Lisbon Valley project.

He went on to add that the geological and technical works continue on the project so that the company could affirm the technical reports that had already been prepared. Last year on November 5, BoxScore Brands had been successful in acquiring the rights to as many as 101 Federal Mining claims at the project.

Key Quote

“As announced on December 14, 2021, BoxScore obtained a technical report summarizing high lithium potential wells in our focus area. With that encouraging information, we began developing detailed plans to verify and demonstrate the presence of high-potential brines. We spoke with several leading and experienced Geotech firms, ultimately providing our detailed scope and requirements to two top industry organizations. After reviewing for scope, timelines, costs, and interviewing subject matter experts and qualified persons in not only this field but also those familiar with the western United States, we enthusiastically selected RESPEC. It was also helpful that members of the BoxScore technical team have had prior experience with RESPEC on other comparable projects,” stated Andrew Boutsikakis, CEO of BoxScore Brands, Inc.

Technical Data

BOXS stock is trading below the 20-Day and 50-Day Moving averages of $0.0118 and $0.0118 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0138. The company has a total market capitalization of $4.05 million. The stock is down 10% over the past month.