In the past week, Cytta Corp (OTCMKTS:CYCA) has emerged as a point of considerable focus among many investors and that can possibly be gauged from the price action in its stock in recent days.
Market Action
On Monday, CYCA stock jumped 5.26% to $0.1970 with more than 16k shares, compared to its average volume of 75K shares. The stock has moved within a range of $0.1900 – 0.1975 after opening trade at $0.19.
Major News
Yesterday, the stock was one of the notable movers and ended up with gains of as much as 5%. The latest rally took its gains for Cytta Corp stock over the past week to 11%. As it happens, the company was in the news on Monday after it announced that it had started shipping its IGAN incident command and SUPR compression systems to MarTac. The systems are going to help with the equipping the Unmanned Surface Vehicles that MarTac is working on.
It goes without saying that the announcement was a significant one from Cytta Corp and the reaction from the market was perhaps understandable. Gary Campbell, who is the Chief Executive Officer of the company, spoke about the latest development as well. He stated that everyone at the company was excited for having started supplying the two types of systems to MarTac. He went on to state that it is an indication of the fact that there is demand for Cytta Corp products in ‘military environments’.
Key Quote
“It is very exciting to be suppling both our SUPR and IGAN technologies to MarTac for integration into their USV’s in fulfillment of their contracts,” said Gary Campbell, CEO of Cytta Corp. “The addition of our IGAN ICS, in addition to our SUPR ISR, is an exciting new development and one that shows the need and demand for both our technologies within military environments.”
Traders Note
CYCA stock is trading above the 20-Day and 50-Day Moving averages of $0.16 and $0.13 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.14. The stock is up 60% over the past month.
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