Alternet Systems (OTCMKTS:ALYI) stock Turns Volatile: Company Seeks New EV Taxi Program

There were many stocks which had come into focus among investors yesterday and one of those was the Alternet Systems (OTCMKTS:ALYI) stock. In order to get a better idea about the situation, it may be a good idea to look into the announcement from the company on Thursday.

Market Action

On Thursday, ALYI stock ended flat at $0.0084 with 5.05 million shares, compared to its average volume of 16.73 million shares. The stock moved within a range of $0.0083 – 0.0089 after opening trade at $0.0085.

Major Details

Alternet Systems announced yesterday that its new electric motorcycle taxi initiative had attracted a lot of interest. Considering the fact that that it is one of the more ambitious projects launched by the company, the announcement was a significant one and must have come as a source of optimism for many investors.

The initiative had been announced by the company on March 1, 2022 and Alternet also announced at the time that it was going to accept Revolt Tokens from those who might be interested in buying the electric motorcycle taxis.

The company announced that soon after the announcement it had bagged a significant order from Nigeria. As per the initiative, customers can pay cash to get the Revolt Tokens and then exchange it for the electric motorcycle taxis that they need. It may be a good idea for investors to consider adding the Alternet Systems stock to their watch lists at this point.

Traders Note

ALYI stock is trading above the 20-Day and 50-Day Moving averages of $0.0096 and $0.0108 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 28.

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