JZZ Technologies Inc (OTCMKTS:JZZI) Stock In Focus After Recent News

It was a tough day in the markets for investors in the JZZ Technologies Inc (OTCMKTS:JZZI) stock as it suffered from a selloff and declined by as much as 8% as a consequence.

Trading Data

On Thursday, JZZI stock slumped 8.33% to $0.0011 with more than 6.14 million shares, compared to its average volume of 5.29 million shares. The stock moved within a range of $0.0011 – 0.0013 after opening trade at $ 0.0013.

XR Active Lifestyles, a Metaverse-Based Media Platform and 50% Joint Venture of JZZ Technologies, Inc., Launches its Online Publication

In this situation, it might be the right time for investors to consider taking a closer look at the developments and figure out if the stock could make any kind of recovery. The company announced yesterday that in collaboration with TGI Solar Power Group Inc it would be working on the launch of an online publication platform. It was back on September 12 that the company made a joint announcement with TGI Solar with regards to the creation of a 50-50 joint venture named XR Active Life Styles.

The joint venture is going to be involved with the task of serving audiences on the metaverse. The new platform that is going to be created by the two companies will be responsible for widening the reach across data services, metaverse, events, digital content and magazines. It was a major new announcement from the company but it seems that investors were not particularly happy about the whole thing. It may be a good move to keep an eye on the JZZ stock today.

Key Quote

Charles Cardona, CEO of JZZI, added, “XR Active Lifestyles new digital team’s expertise in engaging business decision makers, and providing solutions to sellers around the globe – through events, digital content, and marketing services – complements both of our capabilities. This creates a unique platform with an exciting growth trajectory.”

Technical Data

JZZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0012 and $0.0013 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0031.