MasterBeat (OTCMKTS:MSTO) Stock Gains Momentum: Should You Buy or Sell?

A corporate update can result in a stock moving one way or another but for MasterBeat Corporation (OTCMKTS:MSTO), yesterday’s corporate update proved to be a significant boost.

The stock soared by as much as 11% after the company provided the update and also laid out the projections for its different business segments. In this regard, it should be noted that MasterBeat is involved in acquiring real estate assets, vintage cars and other tangible stuff through its subsidiary company SBQ Holdings LLC. The automotive business is operated through the subsidiary company JTEC Automotive.

The company announced yesterday that both its real estate and automotive businesses are being managed successfully and diligently by the two subsidiaries. The company announced that the Verano Palace property that had been acquired back in 2019 not only generated considerable revenues as a vacation property but also managed to generate considerable profits when it was sold this year. The company had bought the property for $1.1 million.

During that period, the property managed to bring in around $160,000 in revenues and delivered profits of $400,00. On the other hand, upon the sale of the property MasterBeat managed to realise profit of as much as $300000 from the Verano property.

Market Reaction:

On Thursday, MSTO stock jumped 11% to $0.0040 with more than 6.35 million shares, compared to  its average volume of 12.57 million shares. The stock has moved within a range of $0.0033 – 0.0041 after opening the trade at $0.0034. Over the past 52-week, the stock has been trading within a range of $0.0015 – 0.0305.