Cyber security firm StrikeForce Technologies Inc (OTCMKTS:SFOR) has seen its stock go through a fairly difficult phase over the course of the past week. During the period, the stock suffered from a significant selloff and went down by as much as 20% as a consequence.
Market Action
On Tuesday, SFOR stock fell 1.23% to $0.0400 with 3.17 million shares, compared to its average volume of 4.76 million shares. The stock moved within a range of $0.0395 – 0.0460 after opening trade at $0.0413.
FCK Foundation licenses StrikeForce’s Mobile & Authentication Technologies to Protect Wallet Transactions
As it happens, the company was actually in the news yesterday after it provided an update in relation to the licensing deal that it has in place with the company FCK Foundation. The deal had actually been announced in January and at the time it had been announced that StrikeForce will be supplying FCK Foundation with authentication and mobile technologies.
In exchange, the company was going to get half of all the net proceeds that were going to be generated through the transaction fees. Yesterday it was announced that FCKCoin, which is a subsidiary of FCK Foundation, has already managed to secure agreements with brand retail outlets. The number of individual brands it has managed to sign up now stands at more than 50. While this was a significant update, it did not lead to much of traction in the StrikeForce stock on Tuesday. It remains to be seen if the stock can rebound today.
Key Quote
“We spent years in the crypto sphere, and recognized security as a primary concern for both new and established investors. After extensive research, we decided to partner with a cybersecurity firm with a long history, good track record, and a new patent in the blockchain. Strikeforce is not only responsible for providing us with the most secure Wallet on the market, but a secure integration platform for crypto-based payments to widely used Point of Sale systems in retail outlets. The partnership between Strikeforce and FCKcoin is the strength in which we will be first to market with this transaction technology,” says Billy Blatty of FCK Foundation.
Traders Note
SFOR stock is trading below the 20-Day and 50-Day Moving averages of $0.0430 and $0.0419 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 44.
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