While it is true that there was no news about Alkame Holdings Inc (OTCMKTS:ALKM) last week, the company’s stock suffered from a selloff nonetheless and ended up with a decline of as much as 11%.
Market Reaction
On Friday, ALKM stock gained 3% to $0.0013 with more than 24.09 million shares, compared to its average volume of 32.51 million shares. The stock has moved within a range of $0.0013 – 0.0015 after opening trade at $0.0015.
Major News
The selloff may appear random or speculative at this point but at the same time, it cannot be denied that many investors might see it as an opportunity as well. With that in mind, it could be a good move to take a look at a key development with regards to Alkame’s fully owned subsidiary company West Coast Copacker Inc from back on October 29.
It was announced that West Coast Copacker got a commitment for as many as eight truckloads for the coming new year and the truckloads are supposed to be delivered in batches of two over the next four quarters.
As a matter of fact, the purchase order for the first truckload had already been completed and could be shipped as soon as it was possible, as per the announcement last month. The value of the total commitment stands at $265,000 and it goes without saying that it was a significant order for Alkame. Investors could do well to keep an eye on the Alkame stock today.
Traders Review
ALKM stock is trading below the 20-Day and 50-Day Moving averages of $0.0015 and $0.0016 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0021. The stock is down 19% over the past month.
