Limitless Venture Group Inc (OTCMKTS:LVGI) Stock Slumps As Investors Booking Profit

Prior to yesterday, Limitless Venture Group Inc (OTCMKTS:LVGI) had been in considerable focus among investors and had managed to clock substantial gains as a consequence. However, on Monday, the stock experienced a sharp correction owing to profit booking from investors and declined by as much as 44%.

Market Stats

On Monday, LVGI stock lost 44.30% at $0.0171 with more than 2.95 million shares, compared to its average volume of 264.75K shares. The stock has moved within a range of $0.0171 – 0.0388 after opening the trade at $0.0320.

Major News

That being said, it should be noted that the Limitless Venture Group stock is still up by as much as 55% over the course of the past week. While the stock dropped due to profit booking, it should be noted that the company also made a key announcement and investors ought to take a look at it.

Yesterday, Limitless Venture Group announced that it hired the services of Skyline Corporate Communications Group LLC on a retainer in order to take care of investor relations and corporate communications. In this day and age, companies need to be quite proactive when it comes to communications and investors relations, which is why it could well turn out to be a good move from Limitless Venture Group.

Skyline is a seasoned player in this space and provides its services to a range of companies. It remains to be seen if investors get back into the Limitless Venture Group stock today after yesterday’s correction.

Key Quote

Joseph Francella, CEO of Limitless Venture Group, Inc., commented: ‘Our recent operating activities, growth objectives, and expected corporate milestones prompted LVGI to select Skyline as our investor relations representative. We are eyeing the cannabis and hemp markets for additional future growth opportunities, seeking to close on the acquisition of a third-party administrator (“TPA”), and have a strong financial position with record revenues for fiscal year 2020. LVGI believes that Skyline’s strong reputation, communications strategies, methodologies, and standards are an excellent pairing for us as we enter into a growth phase for the Company, and we want to have a skilled partner working closely with us when communicating our message to the investing public. We are a diamond in the rough and Skyline will bring the attention needed to get our message out and make LVGI shine through.”