It was a tough day in the markets for investors in International Star Inc (OTCMKTS:ILST) as the company’s stock suffered from a steady selloff and ended up with a decline of as much as 7% for the day.
On Tuesday, ILST stock slumped 7.14% to $0.0013 with more than 6.07 million shares traded, compared to volume of 17.61 million shares. The stock moved within a range of $0.0013 – 0.0015 after opening trading at $0.0014.
INTERNATIONAL STAR (OTC:ILST) Announces Planned Exercise Of Option To Complete Acquisition Of Budding Equity And Election Of New Director
The company came into focus on Tuesday after it announced that it had appointed another member to its board of directors in the form of Avi Minkowitz following an election. However, that was not all. In addition to that, International Star also announced that it was in the last stages of acting on the option to acquire the entirety of the outstanding shares in the firm Budding Equity Inc.
The company announced that it was back on October 20 that Minkowitz had been elected to its board. He is an entrepreneur of long standing and has also displayed a considerable aptitude with regards to business development. He has worked across a wide range of industries starting from real estate financing and acquisition to debt and from management to business development.
Nochum Greenberg, Chairman and interim CEO of the Company added: “We welcome Avi as a Director and are confident that he will add much value to the Board and the Company as we move into the future. We are also excited about the Budding Equity acquisition and the potential that it represents. We are aware of the many tweets and requests for information our shareholders have been sending and we will be sharing more information to help shareholders understand our vision.”
ILST stock is trading below the 20-Day and 50-Day Moving averages of $0.0016 and $0.0024 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0056.