Blackboxstocks.com (OTCMKTS:BLBX) Stock Attempts To Rebound After The recent Slump

It has been a pretty volatile week so far for the Blackboxstocks.com (OTCMKTS:BLBX) stock and in light of the present situation; it might be a good time to look into some recent development in order to make sense of the volatility.

Market Stats

On Thursday, BLBX stock soared 9.73% to $4.12 with more than 2 million, compared to its average volume of 114k shares. The stock has moved within a range of $3.7500 – 4.6500 after opening the trade at $4.23.

Major Trigger

Yesterday, the Blackboxstocks.com (OTCMKTS:BLBX) stock managed to make a strong recover and went up by as much as 10% as investors returned to the stock. However, earlier on in the week on Wednesday, the stock had suffered from a heavy selloff and tanked by as much as 40%.

The selloff in the stock had commenced on Wednesday after the company announced the pricing of its underwritten public offering. The company noted that it was going to offer as many as 2.4 million common shares of its stock for the price of $5 a share.

Blackboxstocks.com expects to raise as much as $12 million from the particular offering. However, that was not all. It was also announced that the underwriters had been given an option by way of which they could pick up an extra 360000 share of the common stock in Blackboxstocks.com at the same offering price. If the option is triggered then the company could make another $1.8 million.

Traders Corner

BLBX stock is trading below the 20-Day and 50-Day Moving averages of $6.59 and $6.35  respectively. However, the stock is trading above the 200-Day moving average of $3.65. The stock is up 37% in the past 3-month.