This past Friday the Sack Lunch Productions Inc (OTCMKTS:SAKL) stock was in the middle of a strong selloff and had ended the day with a decline of as much as 10% as a consequence. The decline in the stock may have been brought about by an announcement on the previous day from the multimedia acquisition and development firm, with regards to the Arowana IP.
Trading Data
On Friday, SAKL stock slid 10.54% to $0.0280 with 115.20K shares, compared to its average volume 28.70K shares. The stock moved within a range of $0.0244 – 0.0280 after opening trade at $0.0700.
Sack Lunch Productions (OTC: SAKL) and Arowana Media Holdings to Jointly Test-market Arowana’s Iconic Vampirella Series with Sack Lunch Followers
The company announced that it had decided to test-market some of the Arowana IPs and that it would start with the testing of Vampirella. The test market is going to see the product getting exposure to more than 2 million Sack Lunch events and media followers. That would also include some entities which may be potential licensees.
It should be noted that Vampirella is the longest-running vampire comic book in the English language in history. Moreover, the latest run that is being headed by Christopher Priest has turned out to be the most successful in its history. It has continued to grow in popularity as more and more people have found the storyline highly intriguing. The latest announcement from Sack Lunch was an important one and it does remain to be seen if the stock can bounce back this week.
Key Quote
Following the recent announcement of their intent to join forces with Sack Lunch, Mark Newbauer, Arowana CEO, commenting on the post Covid emerging media and entertainment industry, said “Covid announced to everyone that this has become a cinematic universe, with tremendous for video streaming and diversity-based content creators and producers, together with owners of legacy and emerging media intellectual property rights.
Technical Data
SAKL stock is trading below the 20-Day and 50-Day Moving averages of $0.0319 and $0.0297 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0637.
