Investors in XCPCNL Business Services Corporation (OTCMKTS:XCPL) may not have had a great time on Thursday as the stock suffered from a mighty selloff and ended the day with a decline of as much as 23%. Yesterday, the company came into the news after it announced that it had been successful in completing the agreements with Centiment Capital Holdings with regard to the acquisition of two of its subsidiary units.
Trading Data
On Thursday, XCPL stock moved down 22.92% to $0.0037 with more than 38.28 million shares, compared to its average volume of 8.88 million shares. The stock moved within a range of $0.0034 – 0.0064 after opening trade at $0.0046.
XCPCNL Business Services Successfully Completes Reverse Merger Acquisition Agreements with Centiment Capital Holdings
The subsidiaries in question are Xerxes Trading Holdings LLC and Advanced Research Machines LLC. Centiment Capital is a neurodata technology company that is owned privately. In this context, it may be a good idea to take a look at the nature of the subsidiaries and their operations.
The subsidiary unit Advanced Research Machines is responsible for having created the mantis crypto trading technology and in addition to that, it also owns Centiment.io.
On the other hand, Xerxes Trading Holdings owns Xerxes, which is trading technology for multiple asset classes and is supposed to complement the High Frequency Trading Platform owned by Advanced Research Machines. However, investors did not seem particularly enthused with the whole thing and it now remains to be seen if the XCPCNL Business Services stock can manage to make a recovery soon.
Key Quote
“Completing these acquisitions marks a major milestone and achievement for our company and shareholders. I am not only honored to be working with Micah Brown, CEO of the acquired enterprises but also JoJo Brim and Leah Daniels-Butler, who are working diligently within our M & A strategy,” said Mr. Matthews.
Technical Data
XCPL stock is trading below the 20-Day and 50-Day Moving averages of $0.0046 and $0.0045 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0193. The company has a total market capitalization of $444K.
