Wee-Cig International Corporation (OTCMKTS:WCIG) Stock Falls 23%: What’s Going On?

Wee-Cig International Corporation (OTCMKTS:WCIG) fell 23% on profit booking after a 100% gain last week. The company announced that its acquisition of EZ365 has launched an EZ NFT, which is a new division of its blockchain-based ecosystem focused on creating a range of opportunities in the NFT sector.

EZ NFT’s launch targets the massive opportunities in the NFT market that is witnessing considerable growth on several fronts, including trading, buying, and selling collectibles, virtual real estate, and digital art. In addition, Wee-Cig recently appointed EZ365 founder Russell Korus as its CEO.

The company announced the acquisition of EZ Exchange OU, which owns EZ365 and its affiliate units, including EZ Win, EZ Academy, and EZ NFT. The acquisition offered EZ365 the necessary operating capital to deliver its vision of building a premier, user-friendly blockchain-based web ecosystem. Korus said that the acquisition marks a crucial and massive step in EZ365’s journey in addition to the expansion of its capital and investor base. Following EZ365’s acquisition, WCIG is worth watching in the coming days.

Market Reaction:

On Thursday, WCIG stock slumped 23.23% at $0.2380 with more than 421k shares, compared to its average volume of 88k shares. The stock has moved within a range of $0.2200 – 0.3850 after opening the trade at $0.3850.

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