Why Did GGTOOR Inc (OTCMKTS:GTOR) Stock Fall 55% On Tuesday?

It was a harrowing time in the markets for investors in the emerging eSports leader GGTOOR Inc (OTCMKTS:GTOR) as the company’s stock suffered from a massive selloff and went down by as much as 55%.

Trading Data

On Tuesday, GTOR stock lost 55.05% to $0.0089 with more than 22.94 million shares, compared to its average volume of 1.51 million shares. The stock moved within a range of $0.0077 – 0.0185 after opening trade at $0.0185.

GGTOOR, Inc., (OTCMKTS:GTOR) Announces Management Report for the Week Ended October 15, 2022

Considering the sheer magnitude of the fall, it could be a good time to figure out if the fall is going to continue or if there is going to be a quick rebound. That being said, it should be noted that the company did make a fairly positive announcement yesterday as it noted that it had been successful in completing as many as six new competitions. More importantly, as many as 1200 players had registered for these competitions.

In this regard, it should be pointed out that the leader of the events was Garena Free Fire, which managed to boost its tally by as many as 124 new player registrations when compared to the numbers in September.

On the other hand, the Clash Royale Tournament was another bright spot as it contributed towards as many as 300 new player registrations. Hence, it could be said that the announcement from GGTOOR yesterday was a fairly positive one but investors were clearly not happy at the numbers.

Technical Data

GTOR stock is trading below the 20-Day and 50-Day Moving averages of $0.0153 and $0.0188 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0241.