Considering the fact that the FOMO Corp (OTCMKTS:FOMC) stock declined sharply over the course of the previous week, the stock is expected to be on the radars of many investors this morning.
On Friday alone, the stock tanked by 22% to takes its cumulative losses for the week to 50%. However, despite the troubles being experienced by the stock, it is important to point out that last week the company made a major announcement regarding its subsidiary company KANAB Corp. FOMO announced that after being in development for two years, KANAB has opened up its cannabis health and wellness social network to some customers for the purposes of beta testing.
In this regard, it is also necessary to point out that over the course of the past weeks, the developers at KANAB had performed beta tests on the platform with some selected users.
However, the work seems to be complete and is now available for use by a global audience. That being said, it is also necessary to keep in mind that the commercial launch data of the platform is going to be announced by the company at a later date. In the meantime, investors could consider keeping an eye on the FOMO stock.
Market Reaction:
On Friday, FOMC stock slid by 21.75% to $0.0018 with more than 233.92 million shares, compared to its average volume of 82.12 million shares. The stock has moved within a range of $0.0016 – 0.0024 after opening the trade at $0.0024. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0269.
Moving Averages
| +/- EMA(20) | 0.0034 (-47.06%) |
| +/- SMA(50) | 0.0054 (-66.67%) |
| +/- SMA(200) | 0.0046 (-60.87%) |
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