After having rallied strongly earlier on in the week, the ADM Endeavors Inc (OTCMKTS:ADMQ) stock corrected sharply on Thursday and went down by as much as 8%. In this context, it is perhaps important for investors to figure out if the decline in the stock could in fact prove to be an opportunity or not.
Market Action
On Thursday, ADMQ stock fell 8% at $0.0722 with more than 147K shares, compared to its average volume of 144k shares. The stock has moved within a range of $0.0715 – 0.0785 after opening the trade at $0.0747.
Recent News
In this context, it should be noted that earlier on in the week on Wednesday the company had announced that its fully owned subsidiary company Just Right Products Inc had managed to generate record profits in the first 10 months of 2021.
The unaudited profits generated by Just Right Products for the period came in at $105,7015 and that represents a rise of in excess of 200% year on year. In the same period in 2020, the company had managed to bring in only $350,236.88 in the form of profits.
ADM Endeavors announced yesterday that it had continued to generate meaningful growth. In the quarter that ended on September 30, 2021, it managed to generate 188.8% year on year growth in school uniform sales. On the other hand, the company’s promotional sales had also gone up by 13.06%. However, the direct costs of revenues also went up 105.41% year on year.
Traders Note
ADMQ stock is trading below the 200-Day and 20-Day Moving averages of $0.0797 and $0.0737 respectively. However, the stock is trading above the 200-Day moving average of $0.0719. The stock is down 12% so far this year.
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