Sino United Worldwide Consolidated Ltd. (OTCMKTS:SUIC) Stock Falls 7% In a Week: Signs New Dealers
Sino United Worldwide Consolidated Ltd. (OTCMKTS:SUIC) was down 7% in a week after the company and Midas Touch’s Taiwan headquarters announced the signing up around ten dealers and 1,000 merchants since the start of October.
Market Stats
On Tuesday, SUIC stock fell 1.52% at $0.6490 with more than 7.99k shares, compared to its average volume of 23.5k shares. The stock has moved within a range of $0.6290 – 0.6689 after opening trading at $0.6290.
Latest News
The dealers and merchants include different franchise chain stores, optical conglomerates, and eCommerce firms, which were enhanced y the collaborative activities promoting the company’s exceptional products globally. In addition, following the signing of a strategic alliance partnership deal with Taiwan Green Mountain Biotech Group in October, the company’s Midas Taiwan team has commenced Starry Marketing roadshows and promotional activities to establish 6,000 locations in Taiwan in other countries globally.
The executive is working with industry behemoths like Mentor International Group, which has over 500 hair salons and outlets globally. Mentor Hair Salon is the largest salon chain in Taiwan, with almost 3000 branches serving close to 3 million customers annually. Another eCommerce company with revenue of $200 million per month and an eye conglomerate with total revenue of $10 billion are negotiating contracts. Investors should watch SUIC.
Key Quote
“SUIC Midas values these relationships with our new partners and merchants, taking us another step forward to achieving our target global expansion. We will replicate this business model to work together with more partners and merchants in the various cities all over the world. SUIC Midas technology and platforms will benefit millions of customers and merchants the world over, especially as we pioneer in customized breakthrough digital products and services addressing the demands of the fast growing and evolving e-commerce markets everywhere.” said Joa Chen, CEO of Midas Touch.
Traders Corner
SUIC stock is trading below the 20-Day and 50-Day Moving averages of $0.78 and $0.97 respectively. The stock is trading in oversold zone with RSI stands at 24.74. The stock is down 34% in the past month.
