On Wednesday, there were plenty of stocks that had managed to clock eye-catching gains and one of those was the AllStar Health Brands Inc (OTC: ALST) stock. It came into focus among investors in a big way and ended up with gains of as much as 30.77% for the day.

Market Action

On Wednesday, ALST stock soared 30.77% to $0.0017 with 12.09 million shares, compared to its average volume of 6.45 million shares. The stock moved within a range of $0.0013 – 0.0020 after opening trade at $0.0013.

Before delving into the developments that brought about the remarkable rally it might be a good idea for investors to take a look at the nature of the company. AllStar is involved in providing specialty healthcare products which are meant to improve the health and well-being of its customers.

The company offers a range of nutritional supplements, medicines, and over-the-counter products for the American and European markets. There was no news about the company yesterday but back on October 11, the company had been in the news after it made a significant new announcement with regard to one of its major projects. The project in question is the metaverse-based Sports Mega Mall that would be showcased next month on November 17.

At the time the company announced that it had signed up NFL Tailgate Mobile Game developers to collaborate on the project. At the time it was also noted that in collaboration with Advent Galaxy, AllStar Health Brands had been successful in creating a 3D Metaverse Sports Village.

The announcement with regards to the collaboration with the NFL Tailgate Mobile Game developers was a significant announcement. The company managed to clock in excess of 40 million downloads for its Red Bull games. It is going to be responsible for bringing high-quality games to the metaverse and consequently to the Sports Meta Mall. The collaboration is expected to expand the number of offerings in the project and that can only be a long-term positive.

Traders Note

ALST stock is trading below the 50-Day and 200-Day Moving averages of $0.0022 and $0.0046 respectively. However, the stock is trading above the 20-Day moving average of $0.0016.

By Bina Murarka

I am Nitin Harlalka, and I have been a passionate writer for close to a decade. I have a graduate degree in Economics and have worked as a business writer for a range of publications. Over the past couple of years, I have also started working on emerging industries like the cannabis industry and blockchain.

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