OPTEC International Inc (OPTI) Stock Corrects 35% In June: Will it Rebound This Month?
In the past month, the OPTEC International Inc (OTCMKTS:OPTI) stock has emerged as one of the more popular stocks in the market and that can be ascertained from the price action in the stock in this period.
Over the course of the past month, the OPTEC stock has fallen of as much as 34% and in light of such sudden fall, it might be necessary to take a look at some of the recent development. Earlier on in the week the company announced that it launched a new purchasing division for the group named WeShield Together.
The group is going to include as many as 25 commodity based sales institutions as well as brokers. These institutions and brokers are going to use the services of WeShield as their purchasing agent in order to bring down the costs for goods which are stressed at this point in time.
Many goods are currently stressed and rising in prices due to the damage to the supply chains caused by the coronavirus pandemic. It has been announced by OPTEC that it is going to reveal more details about WeShield at a future date. It is believed that the partner institutions are going to join WeShield at some point in the third quarter.
Market Reaction:
On Wednesday, OPTI stock ended lower by 1.27% at $0.059 with more than 12.24 million shares, compared to its average volume of 18.76 million shares. The stock has moved within a range of $0.0578 – 0.0610 after opening the trade at $0.060. Over the past 52-week, the stock has been trading within a range of $0.0578 – 0.0610.
