Tower One Wireless Corp (OTCMKTS:TOWTF) Stock Pulls Back Slightly After The Recent Jump

Tower One Wireless Corp (OTCMKTS:TOWTF) stock saw a bit of pullback in the previous trading session after the recent jump. The stock has gained 35% over the past month.

Market Action

On Friday, TOWTF stock slid 5.65% to $0.1083. A total of 39k shares traded for the session hands, compared to its average volume of 32k shares. The stock opened at $0.1050 and moved in a range of $0.1050 – 0.1148.

Recent News

Tower One Construction Update For The Month Of September 2021

Tower One Wireless provided a construction update for the month of September 2021.

During the month of September, the Company was able to complete six (6) new towers and has a total of fifty-four (54) towers under construction in Colombia and Mexico. These towers are built to suit for specific clients and will provide a total, non-cancellable 10 years contracts with 5+ year renewal options, value of $350,000.

Tower One began the year with 90 towers in operation and as of September 30th the company now owns and operates 172 towers, given the current construction schedule we expect to have approximately 200 towers in operation by year end.

Key Quote:

“I am pleased with the continued growth of Tower One’s portfolio and the hard work of our teams on the ground in our various regions. With 54 towers currently under construction and another 400 towers in our backlog, we are in a position of strength for the second half of 2021 and beyond. As each tower is completed, we can clearly see a path to enhanced revenues for the company.” commented Alejandro Ochoa, Chief Executive Officer Tower One Wireless

Trader Notes:

From the technical point of view, TOWTF stock looks bullish with the stock trading above its 50-day and 20-Day SMA stand at $0.09 and $0.10 respectively. RSI stood at 64 – signals neutral trend.