The GNCC Capital Inc (OTCMKTS:GNCP) stock did not end the week on a particularly strong note as it declined by as much as 28% amidst a strong selloff. The decline suffered by the stock is considerable but at the same time it is also necessary to note that there was no news about the company that could have led to such a decline.
However, in this sort of a situation, it might often be a good move for investors to take a look at a development from June 17. At the time, the company provided a business update by way of a letter from the Chairman of GNCC Capital.
The letter had been penned on May 27, 2021. In this letter, the Chairman pointed out that due to a range of issues GNCC Capital was going to go into a ‘quiet period’ for around two to three weeks.
During the course of the period, the company was not going to send out any press releases or issues statement or indulge in any social media activity. However, the letter did indicate that GNCC would be willing to answer any questions that shareholders might have that were not of material or non-public nature.
Market Reaction:
On Friday, GNCP stock plunged 28.50% to $0.0005 with more than 3.05 billion shares, compared to its average volume of 334.44 million shares. The stock has moved within a range of $0.0003 – 0.0006 after opening the trade at $0.0005. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0037.
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