SmartCard Marketing Systems Inc (OTCMKTS:SMKG) Stock In Focus After Recent News
SmartCard Marketing Systems Inc (OTCMKTS:SMKG) is one of the more innovative companies in the payments industry but on Tuesday the company’s stock went into a slide and ended the day with a decline of as much as 12%.
Market Stats
On Tuesday, SMKG stock fell 12.23% to $0.0280 with 15K shares, compared to its average volume of 25K shares. The stock moved within a range of $0.0279 – 0.0280 after opening trading at $0.0279.
Key Details
Yesterday, the company was in the news after it provided news with regards to its current operations and the partnerships that it has in place. It was noted that SmartCard Marketing Systems currently held a minority stake and had a strategic partnership in place with Xpay World of Singapore. Xpay World is also the parent company of the payments processing and PCI Terminal Management Cloud Host firm Xpay World Philippines.
The Terminal Management Cloud Host is an important factor in this particular strategic partnership. It was noted that the Terminal Management Cloud Host and other SAAS services at Xpay World are going to be utilized with the payments technology of SmartCard Marketing Systems for the purpose of bringing about much better products. The latest news was an important one for SmartCard Marketing Systems and may have long term implications for the company. However, it seems that investors were not particularly thrilled about any of it.
Traders Corner
SMKG stock is trading below the 20-Day and 50-Day Moving averages of $0.0484 and $0.0565 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0656.
