Masterbeat Corporation (OTCMKTS:MSTO) Stock Suddenly Falls 8%: Here is Why

Masterbeat Corporation (OTCMKTS:MSTO) dropped 8% after the company announced appraisal of its two properties in Santa Rosa Beach, Florida, at $6.6 million.

Market Stats

On Thursday, MSTO stock fell 8% at $0.0023 with more than 8.97 million shares, compared to its average volume of 15.37 million shares. The stock has moved within a range of $0.0023 – 0.0028 after opening trading at $0.0028.

Receives $6.6 Million Dollar Appraisal and Closes on Construction Loan

Also, SBQ has secured construction funding from Builder’s Capital for the SBQ Santa Rosa Beach Vacation Rental assets. Northwest Florida Appraisal has assessed the two properties at 35 and 36 Baird Road with an appraisal value of around $3.3 million per property.Builder’s Capital which offers SBQ with construction funding to construct and finalize the Santa Rosa Beach properties, verified and approved the appraisal conducted by Northwest Florida Appraisal.

As announced previously, SBD secured the property and satisfied the loan requirements, including down payment of 30%. At the beginning of December, the company has closed traditional funding to finalize both properties. Construction is slated to commence in Q1 2022 at the cost of around $2 million per property.The company’s three properties can generate revenue of more than $10 million. So in the coming weeks, MSTO is worth watching. 

Traders Corner

MSTO stock is trading below the 20-Day and 50-Day Moving averages of $0.0028 and $0.0035 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0055. The stock is down 36% in the past 3-month.