|
Getting your Trinity Audio player ready...
|
American Films Inc. (OTC:AMFL) is an owner, developer, and acquirer of intellectual property rights (ISP) which the company seeks to monetize at higher rates through its proprietary technology, litigation, and asset digitization. Read more. Through its wholly owned subsidiary, FACTERRA LLC, American Films plans to identify instances of copyright infringement and pursue intellectual property protection litigation.
Market Action
On Tuesday, AMFL stock ended lower by 1.41% to $0.70 with more than 40K shares, compared to its average volume of 9K shares. The stock moved within a range of $0.6355 – 0.7100 after opening trade at $0.6750.
The stock has been oversold as well and hence, investors could now consider taking a closer look at the recent developments with regard to the company. Back on October 4, it had come into focus after it announced that it was working on the development of a website that would offer blockchain registration for those who own copyrights. The company came up with a subscription model by way of which creators of content could protect their copyrights through registration on the Solana-powered blockchain.
Prior to that back on September 26 this year, American Films had burst onto the news cycle after it announced that it had filed a lawsuit against Rightscorp Inc and its Chief Executive Officer Cecil B Kyte. The lawsuit had been filed by the company for recovering as much as $15 million. As per the lawsuit, American Films alleged that Rightscorp and its CEO had led American Films with regard to a potential acquisition by the former.
However, Righscorp had used privileged information from the deal in order to generate profits for itself. It is a lawsuit that is expected to be watched closely by investors as American Films seeks to recover the substantial sum.
Traders Note
AMFL stock is trading below the 20-Day and 50-Day Moving averages of $0.77 and $0.89 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.19.
