This morning investors are expected to take a keen interest in the One World Universe Inc (OTCMKTS:OWUV) stock and watch for any signs of recovery after it had tanked by as much as 13% this past Friday. In this situation, it may be a good idea for investors to consider taking a look at the development that led to the selloff.
Market Action
On Friday, OWUV stock slumped 15.78% to $0.1137 with 2.21 million shares, compared to its average volume of 4.62 million shares. The stock moved within a range of $0.1081 – 0.1360 after opening trade at $0.1360.
2021 Year End Financials Recap and Key Accomplishments
The company actually announced its financial results for the 2021 fiscal year and it seems that investors were not particularly happy about it. The company, which is involved in investing in sports businesses and distresses assets, noted that 2021 had been a momentous year as One World Universe finally entered into the Metaverse space.
The company announced that it had a combined asset value to the tune of $85000 in the Metaverse Holding Company. On the other hand, One World Universe also announced that in addition to its Metaverse holdings it had also managed to boost the value of its net assets by as much as 1000% year on year. The net assets at the end of the 2021 fiscal year stood at $1,582,604 and that was a massive rise form the net asset value of only $145,000 in 2020.
Traders Note
OWUV stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.22 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 40.
 Stock Corrects After Financials Update){kind=link}