As the festive season approaches, many investors are possibly looking into the possibility of making one last investment before the markets close and one of the stocks that they could look into is that of Kronos Advanced Technologies (OTCMKTS:KNOS).
Market Action
On Wednesday, KNOS stock moved up 13% at $0.0225 with more than 4.01 million shares, compared to its average volume of 628K shares. The stock has moved within a range of $0.0210 – 0.0260 after opening trade at $0.0220.
Kronos Advanced Technologies Is Developing Its First Metaverse Store
The stock emerged as one of the notable gainers on Wednesday and ended the day with gains of as much as 13% amidst heavy interest. In this context, it may be a good idea for investors to take a closer look at the latest developments with regards to Kronos Advanced. The company is best known at this point for manufacturing products that help in moving air effectively.
However, on Wednesday, Kronos Advanced announced that it was making plans for the purpose of launching its e-commerce Metaverse store. It was a major announcement from the company and the enthusiasm among investors with regards to it was understandable.
The company noted that more and more retailers are now going for a digital transformation and in that light the launch of the e-commerce Metaverse store was the logical move for Kronos Advanced. It can make the shopping experience far better for customers as well and that is something that investors ought to keep in mind as well.
Key Quote
“No one company will own and operate the Metaverse. Like the Internet, its key feature will be its openness and interoperability,” said Nick Clegg, Facebook’s vice president of global affairs. “Bringing this to life will take collaboration and cooperation across companies, developers, creators, and policymakers,” he added.
Traders Note
KNOS stock is trading below the 20-Day and 50-Day Moving averages of $0.0276 and $0.0329 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 37.
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