This past Friday there was a significant selloff in the Vejii Holdings Ltd (OTCMKTS:VEJIF) (CNSX:VEJI) stock as investors headed for the exits in a big way and it ended the day with a decline of as much as 60% as a consequence.
Market Action
On Friday, VEJIF stock fell 60% to $0.14 with 70k shares, compared to its average volume of 651 shares. The stock has moved within a range of $0.1400 – 0.1400 after opening trade at $0.14.
Announces Commencement of Trading on OTCQB Market and Provides Update on DTC Eligibility
The company, which is best known for operating an online marketplace for sustainable plant based products, was actually in the news on Friday following a key announcement. It may be a good time for investors to look into it and figure out if the stock can actually bounce back. The company announced that its shares started trading on the OTCQB market since Friday January 21, 2022.
The shares started trading under the ticker symbol VEJIF. However, it should be noted in this context that the shares are going to continue trading on the Canadian Security Exchange bearing the ticker symbol VEJI. The announcement was a significant one considering the fact that the Vejii Holdings stock was going to get more exposure to another pool of investors.
However, it was also apparent that the move did not quite get the approval of investors if the decline in the stock is anything to go by. It remains to be seen if the stock can bounce back this week.
Key Quote
“We are very pleased to have received approval from OTC Markets Group to trade our shares on the OTCQB and we look forward to receiving DTC eligibility in the near future as we start our US investor awareness campaign. We launched Vejii in the US in the last year and have developed significant US commercial operations through Shopvejii.com and our recent acquisitions of VeganEssentiials.com and VEDGEco.com. We view being able to trade on the OTCQB as an important aspect of developing a following with US investors,” said Kory Zelickson, CEO of Vejii.
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