It has been a rough period in the markets for investors in Cytta Corp (OTCMKTS:CYCA) over the course of the past few days and the trend remained the same on Wednesday as the stock tanked by another 4%.
Market Action
On Wednesday, CYCA stock fell 4.76% to $0.20 with 46K shares, compared to its average volume of 79K shares. The stock has moved within a range of $0.1960 – 0.2100 after opening trade at $0.21.
Cytta Corp. Announces Uplift to OTCQB Venture Market
The decline on Wednesday took the decline over the course of the past week to as much as 15%. In light of such declines, it is perhaps a good time for investors to figure out if it might actually be an opportunity. Hence, it is a good time to perhaps take a look at the announcement that was made by Cytta Corp on Wednesday.
The company, which is involved in the proprietary software technology space, announced on Wednesday that the OTCQB quotation had been approved.
As a matter of fact, it went into effect as soon as the markets opened on Wednesday November 24, 2021. It goes without saying that it was a significant development for Cytta Corp but the news did not lead to any optimism from among investors. The approval had been one of the goals of the company for the year and currently it is a fully reporting firm to the United States Securities and Exchange Commission.
Key Quote
Mr. Campbell, the Company’s CEO, said, “The successful completion of this filing, and having our shares traded upon the OTCQB, is the second major milestone we have recently achieved. Cytta shares are listed and traded upon the OTCQB public market under the “CYCA” ticker symbol. As our S1 became effective on Nov 3rd 2021, the Company is also subject to the full reporting requirements of the Securities and Exchange Commission including the filing of annual (10K) and quarterly (10Q) financial reports.
Traders Note
CYCA stock is trading above the 20-Day and 50-Day Moving averages of $0.19 and $0.15. Moreover, the stock is trading above the 200-Day moving average of $0.15. The stock is up 88% over the past month.
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