The situation was quite difficult for investors in Bell Buckle Holdings Inc (OTCMKTS:BLLB) on Thursday as the company’s stock suffered from a significant selloff and ended the day with a decline of as much as 18%.
Market Action
On Thursday, BLLB stock moved down 17.81% to $0.0060 with 10.33 million shares, compared to its average volume of 9.01 million shares. The stock moved within a range of $0.0056 – 0.0074 after opening trade at $0.0074.
Bell Buckle Holdings Creates New Category of Metaverse Gaming
In light of such a decline, it may be important for investors to figure out if the stock could eventually make a recovery any time soon. As a matter of fact, the company was actually in the news yesterday after it announced that it had finally completed an agreement with regards to the acquisition of Virtual Robotics League.
It was a major new announcement from Bell Buckle but the announcement did not seem to be welcomed by investors and the stock went on a freefall. The main assets and the intellectual property that are controlled by Virtual Robotics League are going to be deployed for the launch of a crypto gaming service on the metaverse.
These are highly ambitious plans from Bell Buckle and it now remains to be seen how the company goes about establishing the whole thing. At this point in time, it may be a good idea for investors to perhaps keep an eye on these developments.
Traders Note
BLLB stock is trading below the 20-Day and 50-Day Moving averages of $0.0073 and $0.0091 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 44.
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