Universal Systems Inc (OTCMKTS:UVSS) Stock Falls 9% In a Week: But Why?

Over the course of the past week, the Universal Systems Inc (OTCMKTS:UVSS) stock has been in the middle of a sustained selloff and during that period, it has recorded losses of as much as 9%.

Market Action

On Monday, UVSS stock ended flat at $0.0105 with more than 351K shares, compared to its average volume of 255K shares. The stock has moved within a range of $0.0105 – 0.0105  after opening trade at $0.0105.

Achieves OTC Pink Current Status and Announces Key Initiatives to Complete 4Q2021

In this regard, it is also necessary to note that such declines can also be opportunities for investors and hence, it might be a good move to take a closer look at a development from last week. Back on November 17, 2021, Universal Systems was in focus among investors after the company announced that it had managed to get Pink Current status on the OTC Markets.

That was a significant development for the company but the market did not react in the way one would have expected. The Chief Executive Officer of the company, Andrew Lane spoke about the matter at the time as well.

He stated that everyone at the company starting from employees to executives and attorneys had put in considerable work towards completing the due diligence and getting all the documents in order. He went on to add that in the upcoming two quarters, Universal Systems would be working on completing on its contractual responsibilities towards two projects.

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