Mango Capital Inc. (OTCMKTS:MCAP) Stock Takes a Hit: Slumps 28%
Mango Capital Inc. (OTCMKTS:MCAP) slumped 28% after announcing that it now be known as MetaCap Inc. as per the October 4, 2021 Board of Directors’ approval.
Market Stats
On Wednesday, MCAP stock slumped 28% at $0.13 with more than 178k shares, compared to its average volume of 27k shares. The stock has moved within a range of $0.0905 – 0.1700 after opening the trade at $0.1587.
Announces Name Change and Reverse Split
The name change is subject to0 regulatory approvals, and the company will continue trading as “MCAP.” Additionally, MetaCap has authorized a 200-to-1 reverse stock split for its common shares subject to necessary regulatory approvals.
MetaCap is a property holding firm specializing in acquiring undervalued American property and complimentary operating enterprises in emerging markets. Recently the company announced the acquisition of over 100 real estate properties in Texas, adding to hundreds of properties in Arizona, Colorado, Nevada, New Mexico, and Arkansas.
The consideration for the acquisitions in Texas was the company’s stock. Mango Capital spokesperson Brooke Pagano indicated that they are delighted to make the acquisitions that expand its property portfolio in the eastern Texas location. In addition, Pagano said they are excited with the seller’s confidence in the management team and company to complete an all-stock transaction. So, in the coming weeks, MCAP is worth watching.
