Eve & Co Incorporated (OTCMKTS:EEVVF) Stock Sees Profit Booking At Higher Level

The Eve & Co Incorporated (OTCMKTS:EEVVF) stock went through a fairly volatile time in recent times and on Friday the stock had tanked by as much as 9% amidst a strong selloff. However, at the same time, it ought to be noted that despite the losses recorded on Friday the stock has still been up by 8% over the past week during that time.

Market Stats

On Friday, EEVVF stock fell 9.23% to $0.1040 with more than 413 shares, compared to its average volume of 9k shares. The stock moved within a range of $0.1040 – 0.1040 after opening trading at $0.1040.

Eve & Co Announces Closing of Shares for Debt Transaction

In this situation, it may be a good idea for investors to note that on Friday the company announced that it had managed to close the shares for debts transaction that it had announced previously. As per this particular transaction, the company managed to settled as much as $657000 in the form of payables that had to be paid to employees, directors , debenture holders and officers among others.

However, in this context, it is perhaps also necessary to point out that Eve & Co had also issued as many as 908677 Settlement Shares at a deemed issuance price to the tune of $0.12 each. While the transaction was an important one for the company it did not lead to any kind of optimism among investors and the stock suffered from a strong selloff.

Traders Corner

EEVVF stock is trading below the 20-Day and 50-Day Moving averages of $0.10 and $0.10 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.15.