Community focussed urban real estate development company Community Redevelopment (OTCMKTS:CRDV) has seen its stock go into a downward spiral over the course of the past month. During the course of the past month, the stock has suffered from a strong selloff and recorded a decline of as much as 23%.
Market Action
On Friday, CRDV stock soared 18.26% to $2.72 with 30.8K shares, compared to its average volume of 2.1K shares. The stock has moved within a range of $2.0700 – 2.9800 after opening trade at $2.30.
Community Redevelopment Issues Shareholder Letter and Provides Corporate Update
Yesterday, the company came into focus after it released a letter to the shareholders that had been composed by Charles Arnold, its Chief Executive Officer. In the letter, Arnold started off by speaking about the mission of Community Redevelopment as a company. He noted that the company remains committed to the goal of community development that is sustainable in nature.
He went on to state that Community Redevelopment was committed to building high class real estate with mixed use features. In addition to that, he noted that the real estate is not only meant for residential purposes but the company is also involved in building commercial properties. He also stated that at a time when income inequality is on the rise, Community Redevelopment is a company that performs an important function in the society. It may be a good time for investors to start tracking the stock a bit more closely.
Traders Note
CRDV stock is trading above the 20-Day and 200-Day Moving averages of $2.60 and $2.71. Moreover, the stock is trading is the neutral zone with RSI stands at 52. The stock is down 7% over the past month.
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