SPYR Technologies (OTCMKTS:SPYR) Stock Takes a Hit: Falls 29%
SPYR Technologies (OTCMKTS:SPYR) sentiments in the market have turned from bad to worse, heading into the year-end. The stock has shed about 29% in market value as investors continue to shun the stock. In addition, the stock is down by about 80% year to date, underperforming the overall market with the S&P 500 up by about 20% year to date.
Market Stats
On Wednesday, SPYR stock slumped 28.50% to $0.0294 with more than 660k, compared to its average volume of 100k shares. The stock has moved within a range of $0.0269 – 0.0493 after opening trading at $0.0493.
SPYR Technologies’ Applied Magix TV Commercials Scheduled For Airing
The sell-off has come at the backdrop of investors questioning the company’s long-term prospects and growth metrics. The technology company operates through the Applied Magix Inc. subsidiary. It specializes in developing and reselling Apple ecosystem-compatible products focused on the multibillion-dollar Internet of Things Smart Home and Connected car markets.
The sell-off this week comes on the heels of SPYR Technologies confirming that the production of its TV commercials has been completed.The short format commercials are schedule for airing.
TV media has already booked assets for the airing of the commercials starting December 27 and is expected to be seen by more than one million people. The airing will serve as a test whose results will be used to determine when to schedule future airings.
Traders Corner
SPYR stock is trading below the 20-Day and 50-Day Moving averages of $0.0497 and $0.0618 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0799.
