Consumer products company Bespoke Extracts Inc (OTCMKTS:BSPK), which is involved in the cannabis and CBD industries saw its stock go through a massive selloff yesterday as it declined by as much as 23%.
On Monday, BSPK stock slumped 23% to $0.0154 with 72K shares, compared to its average volume of 54K shares. The stock moved within a range of $0.0154 – 0.0205 after opening trade at $0.0205.
Bespoke Extracts, Inc. Announces Uplisting to OTCQB Venture Market
Despite the fall in the stock price it ought to be noted that on Monday the company actually made a fairly positive announcement. Bespoke Extracts announced that it had been successful in getting its stock uplisted on to OTCQB Venture Market from the OTC Pink Open Market. The stock is going to start trading on the OTCQB Venture Market from today and is going to be trading under the ticker symbol BSPK.
In this regard, it ought to be noted that Bespoke Extracts also pointed out that uplisting to a bigger exchange is going to bring to the stock to the notice of more retail as well as institutional investors. On top of that, trading visibility is also going to be enhanced considerably.
Despite all that, the investors did not see it in the same light and headed for the exits in a big way. It now remains to be seen if the stock can actually manage to make a recovery once it starts trading on the OTCQB Venture Market today.
“Moving to the OTCQB is the result of our commitment to compliance, quality controls, and complete transparency to our current shareholders and those that will become shareholders of Bespoke in the future,” commented Michael Feinsod, Chief Executive Officer of Bespoke. “This is a significant milestone and a logical progression for the Company as part of our goal to make 2022 a transformational year for Bespoke. We look forward to providing our shareholders regular updates on our progress in the coming weeks and months.”
BSPK stock is trading above the 20-Day and 50-Day Moving averages of $0.0213 and $0.0222 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 40.