Global Consortium Inc (OTCMKTS:GCGX) Stock Corrects On profit Booking After The Jump

Yesterday, the Global Consortium Inc (OTCMKTS:GCGX) stock was one of the notable laggards as it suffered from a strong selloff and ended the day with a decline of as much as 26%.

Market Stats

On Friday, GCGX stock slumped 26% to $0.57 with more than 12K shares, compared to its average volume of 11.8K shares. The stock has moved within a range of $0.3800 – 0.7050 after opening trading at $0.64.

Key Press Release

While the decline in the stock was considerable, it is also important to keep in mind that despite the sharp fall yesterday, the stock is still up by as much as 39% over the past week. Despite the action in the Global Consortium stock in the past week, it is necessary for investors to keep in mind that there has been no news about the stock this month so far.

The last time any news emerged about the company was last year in October. At the time the company had made an announcement with regards to the significant changes that were going to be made to Global Consortium.

In addition to that, the company also announced that Matthew Dwyer, who was the Chief Executive Officer at the time, was relinquishing his role and was not going to be involved with Global Consortium anymore. While those were important announcements, it is also true that the latest moves may not have been related to the announcement in October last year.

Traders Corner

GCGX stock is trading above the 20-Day and 50-Day Moving averages of $0.53 and $0.50 respectively. However, the stock is trading below the 200-Day moving average of $1.93. The stock is up 14% in the past month.