Yesterday, it was not a necessarily memorable day for investors in Norvista Capital Corp (OTCMKTS:XTERF) as there was not much of a movement in the stock and it remained within a range. However, at the same time, it ought to be noted that stocks trading within a range do not necessarily need to be ignored.
Market Action
On Tuesday, XTERF stock ended flat at $0.0655 with 2K shares, compared to its average volume of 36 shares. The stock has moved within a range of $0.0655 – 0.0655 after opening trade at $0.0655.
Announces Effective Date for Name Change to Olive Resource Capital Inc. and Trading Symbol Change
After all, they can break out as well and as a matter of fact, the company was in the news yesterday. Norvista announced yesterday that it had been successful in completing the vertical integration with Olive Resource Capital Inc, its fully owned subsidiary company.
The vertical amalgamation with the subsidiary went into effect on December 30 last year. In this context, it is also important for investors to note that following this move, the name of the company had also been changed to Olive Resource Capital Inc as on January 13, 2022.
Following this move, the ticker symbol of the stock is also going to change to OC on the TSX Venture Exchange. Last but certainly not the least, the CUSIP number has also been changed following the name change. It now remains to be seen if the stock can make an upward move or not.
Key Quote
Samuel Pelaez, the Company’s President, CEO, CIO and Director, stated: “We are transitioning the Company into a new growth phase, with new objectives in mind. The name change better reflects our philosophy on investing, and better aligns with our medium and long-term goals. Ultimately, we want Olive to become a robust, multi-generational investment vehicle.”
Traders Note
XTERF stock is trading below the 20-Day and 50-Day Moving averages of $0.0776 and $0.0884. Moreover, the stock is trading is the neutral zone with RSI stands at 44. The stock is down 7% over the past month.
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