NW Tech Capital (OTCMKTS:NWTT), which operates as a holding company and has interests in several industries, saw its stock take a beating in the markets yesterday as it ended up tanking by as much as 12%.
On Monday, NWTT stock moved down 12.50% to $0.0007 with 57.84 million shares, compared to its average volume of 48.05 million shares. The stock moved within a range of $0.0007 – 0.0008 after opening trade at $0.0008.
However, it is also necessary to point out that the company actually made a major new announcement as it launched a new joint venture in collaboration with TROPICSLAB. In this joint venture, the company is going to be working with TROPICSLAB for the purpose of releasing a range of celebrity skin care products. It is a market that has attracted considerable attention in recent years and it is going to be interesting to see how the whole thing performs.
It was also announced by the company that the joint venture is expected to be a leader in its category and that is also something that investors ought to keep in mind when considering the latest NW Tech Capital venture. At this point in time, it could be a good idea to perhaps keep an eye on how the whole thing progresses before making any move one way or another. It will be interesting to see if the stock can make a rebound.
NWTT stock is trading below the 50-Day and 200-Day Moving averages of $0.0008 and $0.0007 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 45.