The New World Gold Corporation (OTCMKTS:NWGC) stock was in the middle of a bit of a downward spiral on Tuesday and many of its investors will probably be hoping for a turnaround today. There was no fresh news about the company on Tuesday but the stock fell by as much as 20% amidst a heavy selloff.
However, it might be a good idea for investors to take a look at the announcement made by the company last Friday. The company announced that it had completed the acquisition of a placer claim located in the south western area of the state of South Dakota.
The placer claim in questions stretches across an area of 160 acres and in this regard, it is also necessary to note that the property also intersects as many as three tributaries centrally. There are other things that could fall into place for the company fairly quickly as well.
The placer claim is located on Federal land and New World Gold is going to be able to get the mineral rights for the property through its fully owned subsidiary company Rock Creek Mining & Exploration Co. The latest fall in the stock may have come as a bit of a shock but it is going to be interesting to see if it can rebound soon.
Market Reaction:
On Tuesday, NWGC stock slid 20% to $0.0068 with more than 102.39 million shares, compared to its average volume of 102.66 million shares. The stock has moved within a range of $0.0061 – 0.0079 after opening the trade at $0.0069. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0367.
 Stock Pulls Back From The Recent Jump: Now What?){kind=link}