Alternet Systems Inc.’s (OTCMKTS:ALYI) Stock Extends Fall: Down 20% In a Week

March 9, 2022March 9, 2022 Ash K $Alternet Systems Inc. (OTCMKTS:ALYI), $ALYI, $ALYI news, $ALYI stock, $OTCMKTS:ALYI

Shares of Alternet Systems Inc.’s (OTCMKTS:ALYI) have been under selling pressure over the past week with a fall of 20%.

Market Stats

On Tuesday, ALYI stock fell 11% to $0.0073 with more than 44.75 million shares, compared to its average volume of 16.41 million shares. The stock moved within a range of $0.0068 – 0.0089 after opening trading at $0.0085.

ALYI Outlook To Expand Initial 2021 $2 Million EV Order To $10 Million In 2021 Is Improving In Wake Of Recent Cryptocurrency Program Announcement

Alternet Systems Inc.’s (OTCMKTS:ALYI) on March 4, 2022, announced significant interest in the firm’s new electric motorcycle taxi program announced earlier in the week. ALYI announced that the firm will be accepting Revolt Tokens in lieu of buying ALYI electric motorcycle taxis in managed commercial purchase program.Post the fresh program announcement, ALYI got a proposal for a significant order for servicing in Nigeria.

RVLT can be bought in exchange for another cryptocurrency or cash. RVLT can be exchanged for buying ALYI electric motorcycle taxis, which would be leased to operators generating revenues for electric motorcycle taxi owners. Alternet Systems also announced improved optimism for higher electric vehicle sales in Africa. The company started fulfilling a $2 million electric motorcycle order in Africa by end of last year.

Expected to reflect in ALYI’s upcoming 2021 annual report, the $2 million is part of the company’s targeted increase of order book to $10 million in 2022.The firm announced a fresh program where it will accept Revolt Tokens in exchange for the purchase of ALYI electric motorcycles. This will be in a managed commercial purchase program.

Post the new announcement, the firm got a proposal for a substantial order for going into service in the African nation. The management is confident in reaching $10 million in 2022 due to improved EV sales.

Traders Corner

ALYI stock is trading below the 20-Day and 50-Day Moving averages of $0.0092 and $0.0105 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0223.