Premier Products Group (OTCMKTS:PMPG) Stock Fell 11% Last Week: Here is Why

Over the course of the previous week, the Premier Products Group (OTCMKTS:PMPG) stock was in the middle of a downturn and ended up with losses of as much as 11% for the period.

Market Action

On Friday, PMPG stock ended flat at $0.0115 with more than 299k shares, compared to its average volume of 936K shares. The stock has moved within a range of $0.0100 – 0.0116 after opening trade at $0.0100.

Earnings Recap

This past Friday, the company was in the news as well after it provided an update with regards to the sort of progress that it has been able to make in the past few months. The company noted that the stock has been given the expert designation which implies that the Premier Products stock is currently only eligible for unsolicited quotes. However, the company also pointed out that it was working towards rectifying this particular situation.

The news with regards to the current status of the stock may have come as a source of pessimism among investors and perhaps that explains the current situation.

The company also announced its financial results for the third fiscal quarter and the nine month period, both of which ended on September 30, 2021, not too long ago. In the third quarter, the net losses made by the stock stood at $0.033289 million and that was higher than the net losses of $0.012543 that it had recorded in the prior year period.

Traders Note

PMPG stock is trading below the 20-Day and 50-Day Moving averages of $0.0146 and $0.0213. Moreover, the stock is trading below the 200-Day moving average of $0.0442. The stock is down 16% over the past month.

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