Friendable Inc (OTCMKTS:FDBL) Stock Suddenly Fall 23%: Here is Why

Mobile technology company Friendable Inc (OTCMKTS:FDBL) which is also involved in marketing was one of the notable laggards in the markets yesterday as FDBL stock suffered from a strong selloff.

FDBL stock was in the middle of a downward spiral yesterday and ended the day with losses of as much as 23%. As it happens, the company announced yesterday that it launched a pair of new video trailers that are meant to create a buzz around the Fan Pass Livestream platform. FDBL noted that the trailers are designed to showcase the platform to musical artists as well as fans and to make a case for them joining the platform.

The Chief Executive Officer of FDBL, Robert A. Rositano Jr spoke about the development as well. He stated that at this point of time Friendable has shifted its focus to the digital media assets that it owns. He went on to state that the company published those two video trailers in order to bring about more downloads, merchandise sales and artist registrations for the platform.

However, he was also quick to add as more and more money is spent on marketing, FDBL is also going to make changes to the platform in order to cater to a large user base.

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