Stocks which trade within a range can often break out as well and hence, it could in fact be a good idea to actually track those stocks. Although the MusclePharm Corporation (OTCMKTS:MSLP) stock was trading within a range on Wednesday, it should be noted that the company did make a significant announcement yesterday.
Market Action
On Wednesday, MSLP stock moved down 3.33% at $0.7250 with more than 6k shares, compared to its average volume of 12k shares. The stock has moved within a range of $0.7250 – 0.7997 after opening the trade at $0.75.
Latest Development
MusclePharm, which is best known for being a leader in the sports nutrition and nutritional supplements space, announced yesterday that it was going to announce its financial results for the third fiscal quarter that ended on September 30, 2021 on November 15, 2021.
It should be noted that the company also pointed out that the financial results were going to be announced after the closure of markets on November 15.
While the announcement did not lead to any particular action in the MusclePharm stock it is going to be interesting to see if the stock does get into focus among investors in the days leading up to November 15 or not. The company also announced yesterday that it was also going to be host a conference call on the day of the result at 1-30 pm Pacific Time. At this point, investors could consider keeping an eye on the MusclePharm stock.
Traders Note
MSLP stock is trading below the 200-Day and 50-Day Moving averages of $1.12 and $0.72 respectively. However, the stock is trading above the 200-Day moving average of $0.71. The stock is up 255% so far this year.
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