LIG Assets Inc (OTCMKTS:LIGA) Stock Sees Selling Pressure At Higher Level

On Friday, one of the stocks which emerged as a notable laggard was that of LIG Assets Inc (OTCMKTS:LIGA). The company, which is also known as ‘Leader in Green Assets’ saw its stock suffer from a strong selloff that led to a decline of as much as 8% for the day.

Market Action

On Friday, LIGA stock ended lower by 8.10% at $0.0091 with more than 10.13 million shares, compared to its average volume of 32.39 million shares. The stock has moved within a range of $0.0087 – 0.0101 after opening trade at $0.0099.

Latest News

The stock had a decline after it provided an update to its shareholders with the announcements that it had made at the concluding portion of The 5th Annual Sustainability Impact Conference. At this point, it might be a good idea for investors to take a look at some of the highlights of those appointments.

At the event, the company announced that in 2021 till date, it had managed to bring in revenues of as much as $8.49 million and on the other hand, the net profits in the year till date came in at $3.95 million.

In addition to that, the tax that had been carried forward for the same period stood at $3 million. LIG Assets also announced that it was also going to move forward with the lawsuit by way of which it seeks to cancel as many as 140 million shares.

Traders Note

LIGA stock is trading above the 200-Day and 50-Day Moving averages of $0.0056 and $0.0078. However, the stock is trading below the 20-Day moving average of $0.0100. The stock is down 12% over the past month.

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