There has been considerable pressure on the markets over the past few days and this past Friday, there were many stocks which had plunged sharply amidst heavy selloff. One of those was the TGI Solar Power Group Inc (OTCMKTS:TSPG) stock, which ended up with a decline of as much as 22%.
Trading Data
On Friday, TSPG fell 22.37% to $0.0030 with more than 1.89 million shares traded, compared to volume of 761.88K shares. The stock moved within a range of $0.0024 – 0.0038 after opening trading at $0.0038.
TGI’s Sub Advent Galaxy Reached Final Agreement With AllStar Health Brands and Started Production of “Village Sports and Entertainment Mega Mall”
In this situation, it is important for investors to figure out if the stock may make a recovery any time soon. This past Friday, the company had announced that its fully owned subsidiary unit Advent Galaxy Inc had agreed on terms with the firm AllStar Health Brands Inc and signed a final agreement with regards to a venture.
The venture in question is the creation of a Village Sports and Entertainment Mega Mall on the Metaverse. Considering the fact that the Metaverse is all set to be the next big leap for the internet, the move could well prove to be a positive one in the long term.
However, investors did not see it in the same light and the TGI Solar Power stock plunged. It was further noted that Advent Galaxy expected to bring $3 million in revenues from the project. It may be a good idea to keep an eye on the TGI Solar Power stock this week.
Key Quote
“We are in discussion with a major gaming company to bring entertainment to the Mega Malls for the users to the Sports and Entertainment Village MegaMall. At the next Expo there will be a Demo to show the 1st glimpse into the Sports and Entertainment Village Mega Mall and the gaming companies entertainment offering for major sports brand XR-LABS coupled with Advent EXPO™. We are very excited for all future prospects in the Sports Village Mega Mall. The interest being shown for the MetaVerse business model is explosive. At the Expo, we engaged in discussions with several groups, each a possible client moving forward” indicated Peter Wanner, CEO ALST
Technical Data
TSPG stock is trading below the 20-Day and 50-Day Moving averages of $0.0042 and $0.0048 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0049. The company has a total market capitalization of $5.15 million.
