Investors are almost always on the lookout for stocks that may be on the verge of making an upward move or those that may be on the verge of bouncing back after a slump. In both instances, there are possibilities of making gains. One of the stocks which may be on the verge of bouncing back in the coming days is Marketing Worldwide Corporation (OTC:MWWC).
On Tuesday, MWWC stock fell 20% to $0.0004 with 109.90 million shares, compared to its average volume of 20.92 million shares. The stock moved within a range of $0.0003 – 0.0006 after opening trade at $0.0006.
The company had been in the news earlier on in the month on October 7 when it announced that its Board of Directors had unanimously reached an agreement to overhaul the operations. It was a major new announcement and one that may have led to considerable excitement among investors.
At the time, it was announced that Marketing Worldwide Corporation had already started the process of unwinding a wide range of its existing assets and business operations. That particular move had been put in motion after unanimous approval had been granted by the members of the board and the Chief Executive Officer of Marketing Worldwide Corporation.
The company divested from all of its cybersecurity-related operations with immediate effect and that also included the Application Security as well as the Global Digital Forensics business segments. On the other hand, the company also gave up all its interests in Doxed LLC and Minosis subsidiaries.
The move to give up interest in the crypto-related subsidiaries was driven by the fact that the crypto market was in a downturn. Hence, the company concluded that it was not tenable to continue with those two projects.
The company noted at the time that it was going to participate in meetings with investors in order to pick out fresh opportunities over the course of the coming weeks following internal audits. It may be a good time to keep an eye on the Marketing Worldwide Corporation stock.
MWWC stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0007 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0020.