Why Did One World Universe Inc (OTCMKTS:OWUV) Stock Soar 37% On Friday?

One of the stocks which is almost certainly going to be focus among investors this morning is that of One World Universe Inc (OTCMKTS:OWUV). It had been in considerable focus among investors this past Friday and had ended up with gains of as much as 37% amidst heavy interest.

Trading Data

On Friday, OWUV stock jumped 37% to $0.0541 with more than 6.96 million shares, compared to its average volume of 1.63 million shares. The stock moved within a range of $0.0341 – 0.0621 after opening trade at $0.0400.

One World Universe Inc. Announced That OWUV Has Reached a Business Agreement With an International Technology Company

The company, which is involved in a range of industries including the metaverse, announced on Friday that it had come to an agreement with a global technology company. The company noted that the company with which it reached the agreement is involved in developing and then licensing trading automation strategies to its clients.

One World Universe announced that the technology company in question has been generating profits of $5.9 million each month and commands a corporate valuation of $208 million. At this point in time, it has a total of six contracts in place which are worth $15 million. As many as eight more contracts are expected to be executed by the end of 2022.

At this point in time, the technology company is operating in three countries. Hence, the excitement among investors with regards to the contract is perhaps understandable. It remains to be seen if it can add to its gains today.

Key Quote

“I am excited about this new international venture.  With this business model, it will fit into One World Universe’s mission to bring access to technology to every person, no matter their economic status, education, race or religion.  With the acquisition of 51% of this company, we will be able to provide revenues to continue our humanitarian efforts worldwide,” stated President Jerry C. Craig, One World Universe, Inc.

Technical Data

OWUV stock is trading above the 20-Day and 50-Day Moving averages of $0.0437 and $0.0523 respectively. However, the stock is trading below the 200-Day moving average of $0.1023.