After having recorded considerable gains over the course of the past week or so, the Lingerie Fighting Championships Inc (OTCMKTS:BOTY) stock corrected sharply on Wednesday and fell by as much as 22%.
However, at the same time, it is necessary for investors to keep in mind that despite the fall yesterday, the stock is still up by as much as 115%. The rally in the stock was triggered last week when the company announced that it got into a partnership with Scuffle LLC by way of which Lingerie Fighting Championships will launch LFC TV, its own Roku channel.
That is going to be a significant milestone for the company and hence, it was no surprise that investors piled on to the stock in a big way since the announcement was made on July 23. The channel is going to broadcast Lingerie Fighting Championships events and also provide a platform on which the talents at the company can be showcased effectively.
Shaun Donnelly, the Chief Executive Officer of Lingerie Fighting Championships, state that launching its own channel was always a goal but since there was not enough content to go around it had not been launched. It remains to be seen if the Lingerie Fighting Championships stock recovers today.
Market Reaction:
On Wednesday, BOTY stock slumped 22% at $0.0032 with more than 433.28 million shares, compared to its average volume of 62.85 million shares. The stock has moved within a range of $0.0030 – 0.0048 after opening the trade at $0.0046. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0089.
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