This past Thursday American Leisure Holdings (OTCMKTS:AMLH) was in considerable focus among investors and ended up with gains of as much as 15% amidst heavy interest. In this situation, it may be a good idea for investors to take a look at the key development from Thursday.
Market Action
On Thursday, AMLH stock moved up 16% to $0.0015 with 246.34 million shares, compared to its average volume of 39.89 million shares. The stock moved within a range of $0.0013 – 0.0018 after opening trade at $0.0015.
AMLH Agrees to Terms for Acquisition of Baller Mixed Reality, Web 3.0 Innovator
It emerged that Adrian Patasar, the Chief Executive Officer of the company, had been successful in negotiating the terms with regards to the acquisition of a majority stake in the start-up firm Baller Mixed Reality. Baller Mixed is involved in the development of Authographed Metaverse Collectibles NFTs or non-fungible tokens.
The acquisition of the company could be a game changer for American Leisure Holdings’ ambitions with regards to the Metaverse. While the traditional NFTs are two dimensional, the augmented reality capabilities of Baller Mixed Reality can help in placing the NFT collectibles in real world situations.
At this point in time, it is possibly easy to see why the stock rallied so strongly on Thursday. It may be a good idea now for investors to possibly add the Americann Leisure Holdings stock to your watch lists and watch out for the price action in the stock.
Key Quote
“We are delighted to have the support of Adrian and American Leisure Holdings as we expand the application of non-fungible tokens into mixed reality assets, and create new forms of utility for collectors of sports and entertainment memorabilia…” says Jonathan Herman. “We are disrupting the $15 Billion industry for sports memorabilia (Forbes) with the $25 Billion industry for NFTs (Reuters) – and when soon-to-be-released AR-VR Smart Glasses come available from Apple, Samsung, Meta and others (a projected market of $6.2 Billion according to TechNavio), Baller Mixed Reality will be positioned at the nexus of a combined $46 Billion market.”
Traders Note
AMLH stock is trading above the 20-Day and 50-Day Moving averages of $0.0014 and $0.0013 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 55.
 to Acquire A Majority Stake In Baller Mixed Reality){kind=link}