Although SFL Maven Corp (OTCMKTS:SFLM), which is involved in providing high-end luxury goods, made a fairly positive announcement yesterday, it did not lead to any boost for the stock. In fact, the stock suffered from a heavy selloff and went down by as much as 33%.
Trading Data
On Tuesday, SFLM stock slumped 33.33% to $0.0004 with more than 356.54 million shares, compared to volume of 17.01 million shares. The stock moved within a range of $0.0003 – 0.0006 after opening trade at $0.0006.
SFLMaven Auctions on eBay Are a Huge Success
The company announced yesterday that the latest Thursday night auction that it had hosted on eBay had proven to be a major success. The company announced that it had managed to sell good worth $200,000 for the night and the total sales for the entire week stood at $222,000. The company noted yesterday that the success was primarily due to the team of curators who had been successful in choosing only the best items for the aforementioned auctions.
In addition to that, SFL Maven also noted that it had also been using the eBay platform in an innovative manner and that had been another factor behind the strong sales performance. However, in this regard, it is also necessary to point out that SLF Maven also added that its metaverse store had also been launched and in the near future auctions were going to be held there. It remains to be seen if the stock can bounce back.
Key Quote
SFLMaven is proud to announce that our Thursday night auction on eBay was a huge success! We sold $200k worth of product last night and $222k for the week. This is a testament to the hard work of our team and the innovative shopping experience we provide to our clients. “If you haven’t had a chance to check out our metaverse store yet, what are you waiting for? Stop by and visit for special offers and to provide us feedback.” – Joe Ladin, CEO.
Technical Data
SFLM stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0010.
