Venture capital firm Readen Holding Corporation (OTCMKTS:RHCO) is primarily involved in the fast growing, e-commerce, financial technology and online payment industries.
Market Action:
On Wednesday, RHCO stock slid 6.98% at $0.0666 with more than 417.10K shares, compared to its average volume of 182.06K shares. The stock has moved within a range of $0.0601 – 0.0919 after opening the trade at $0.0899.
Major Trigger
Yesterday, the Readen stock was in the middle of a bit of a selloff and ended the day with a decline of as much as 5%. However, in this situation, it is perhaps also important to figure out if the decline in the stock could be an opportunity for investors or not. Yesterday, the company was in the news as well after it announced that its backend payment platform OkePay had been completely integrated with the payment giants WeChat Pay and Alipay.
The integration update was a significant update from the company considering the fact that WeChat Pay and Alipay are highly popular payment options for millions of people.
In addition to that, OkePay merchants will now be able to get access to as many as 1.2 billion customers following this integration and that is something else that investors ought to keep in mind. It is clear to see that yesterday’s announcement was a significant one from the company and hencek it now remains to be seen if the Readen stock can make a recovery in the coming days.
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