The Movie Studio (OTCMKTS:MVES) has been on a wild ride Wednesday so what’s up?
As of 1:00 Wednesday shares of MVES were trading at .0315 up .0138 gaining 86% on the session. MVES has been a sleepy little stock the last month or so trading about 1.3 million shares a day but volume today it is already 66 million shares on 2380 trades. MVES opened the day at .02 and ran to a high of .0488 up 199% at the time but has sold off as traders took profits off the table.
So what happened? Well MVES announced pre-market that it has successfully launched its OTT (over the top) streaming platform on the Apple App Store.
In addition to that, it should be noted that the MVES already launched the Android version of the OTT platform. The fact that the platform is available on both the app stores is a major development for The Movie Studio.
Chief Executive Officer and President Gordon Scott Venters stated “We are very pleased with the Movie Studio’s successful launch of our OTT streaming platform, which straddles between a free Advertiser Video On Demand (AVOD) to attract users and the value proposition of our Subscriber Video On Demand (SVOD) application. This is a unique hybrid in the OTT universe, and the integration of a feature enabling consumers to potentially participate in the content of upcoming motion pictures is pioneering,” said Gordon Scott Venters, MVES president and CEO.
Put MVES on your watchlist to see if todays activity will be enough to keep the stock moving in the right direction.