There has been no news in relation to CAVU Resources Inc (OTCMKTS CAVR) for many months now but that has not stopped investors from indulging in a selloff over the course of the past week.
On Tuesday, CAVR stock decreased 1% at $0.0385 with more than 693k shares, compared to its average volume of 1.01 million shares. The stock has moved within a range of $0.0381 – 0.0400 after opening trade at $0.0389.
In the past week, the CAVU stock has declined by as much as 8% amidst the selling pressure. However, it is perhaps also necessary to keep in mind that the last time any news emerged about the company was back in June this year when it made an announcement with regards to its name change. The company announced back on June 21, 2021 that it had decided to officially change its name to LiveToBeHappy Inc.
It goes without saying that the decision to change the name of a company is a momentous event and hence, it is something that investors ought to keep in their minds. In addition to that, it was also announced by the company at the time that the its Board of Directors had actually voted to adopt the new name back on June 17, 2021. While that may be the last news about the company, it is also unlikely to have been a factor in the latest slump in the company’s stock.
CAVR stock is trading below the 20-Day and 50-Day Moving averages of $0.0405 and $0.0432 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0447. The stock is down 14% over the past 6-month.