Silverback United Inc (OTCMKTS:MLCG) Stock Takes a Hit: Company Announces New CEO

Shares of Silverback United Inc (OTCMKTS:MLCG) closed lower on the previous session on low volume.

Market Action

On Thursday, MLCG stock fell 15.88% to $0.4105 with 800 shares, compared to its average volume of 8k shares. The stock moved within a range of $0.4105 – 0.4499 after opening trade at $0.4499.

Silverback United, Inc. (OTC: MLCG) Announces Appointment of Ron Bienvenu as President and Chief Executive Officer

Leader in rapidly emerging industry of unlocking and activating the inherent value in data as an asset, Silverback United Inc (OTCMKTS:MLCG) on February 17, 2022 announced the appointment of Ron Bienvenu as Chief Executive Officer and President. Robert Tanko, serving as interim Chief Executive Officer as well as Chief Financial Officer, will be serving as interim Chief Financial Officer.

The appointment is effective immediately and Mr. Bienvenu will be also continue to serve as Chief Executive Officer of RBEL ENTERTAINMENT, INC. The company became wholly-owned subsidiary of Silverback due to completed reverse merger transaction with Silverback.

Appointment will commence first phase of finished management reorganisation of Silverback after Merger Transaction. The firm is looking at selecting new board of Directors for leading Silverback. The firm also announced appointment of new executive officers as well as charter members of the Silverback’s advisory board.

With over three decades of experience across financial and technology industries, Bienvenu has been engaged in several industries. Having raised more than $800 million in funding for different investments during his career, his book, The Fourth Shock, established intellectual framework for data economy. Bienvenu expressed excitement on leading an accomplished team as it is pioneering the new industry. He opined that Silverback is positioned to be leader in maximizing value.

Traders Note

MLCG stock is trading above the 20-Day and 100-Day Moving averages of $0.3971 and $0.3836. Moreover, the stock is trading is the neutral zone with RSI stands at 49.

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