After having completed its merger not too long ago, XCPCNL Business Services Corporation (OTCMKTS:XCPL) was in the news yesterday after it provided a post-merger update. It may be a good idea for investors to take a look into it before making up their minds about the stock one way or another.
On Tuesday, XCPL stock ended flat at $0.0026 with more than 9.21 million shares, compared to its average volume of 10.38 million shares. The stock moved within a range of $0.0025 – 0.0030 after opening trade at $0.0028.
XCPNL Business Services Provides a Post-Merger Update
The company announced that launch of Crypto as a Currency or CaaS, which is going to function as the trading business arm of the company following the acquisition of ARMS and Xerxes from Centiment Capital. That particular arm is going to be focused on short crypto positions and will be operated through automated trading technologies as well as artificial intelligence.
The company went on to note that the algorithms which are currently being used have been created specifically for the crypto markets. More importantly, the strategy has already been tested for the traditional stock markets as well. XCPCNL Business Services Corporation further announced that the trading model generated returns to the tune of 2% to 10% each week. The team from Xerxes has been working on the capital markets for a long time since 2009 and holds combined experience of more than three decades.
“It is necessary to create and test our algorithms in live environments to understand their returns, risks, and behaviors. Leveraging the Reg A will allow us to bring in the talent we need to begin testing earlier, allowing us to expand and improve existing products and develop new products. The funds will be used to expand our engineering team, add a customer success team, legal compliance, active trading and investment,” said CEO Tim Matthews.
XCPL stock is trading below the 20-Day and 50-Day Moving averages of $0.0034 and $0.0042 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0146.