JZZ Technologies (OTCMKTS:JZZI) Stock Sees Selling Pressure After The News
In the past week, it has been a pretty tough time in the markets for investors in JZZ Technologies (OTCMKTS:JZZI). During the period, the stock suffered from a strong selloff and recorded a decline of as much as 10% as a consequence.
Market Stats
On Monday, JZZI stock slid 2% to $0.0071 with more than 2.84 million shares, compared to its average volume of 14.41 million shares. The stock has moved within a range of $0.0070 – 0.0080 after opening trading at $0.0075.
JZZ Technologies signs LOI to acquire Life Factor Research
Despite the fall in the stock price, it should be noted that yesterday the company was in focus once again after the emergence of fresh news. It emerged that JZZ Technologies is currently looking to complete the acquisition of the company Life Factor Research. Once the acquisition is completed, JZZ Technologies intends to start marketing the patented natural supplements range that is manufactured by Life Factor Research.
As per the potential terms of the agreement, JZZ Technologies is going to acquire 100% ownership of Life Factor. In addition to that, the company will also get ownership of all the products, formulations, manufacturing operations and research that is currently under the control of Factor Research.
In this regard, it should also be noted that JZZ Technologies will also provide Factor Research with working capital assistance by way of which the two could collaborate on the creation of new products. Despite the fall in the stock price, JZZ Technologies stock could be worth tracking.
Traders Corner
JZZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0082 and $0.0091 respectively. The stock is trading in neutral zone with the RSI at 38. The stock is down 15% in the past month.
