SFLMaven Corp (OTCMKTS:SFLM) Stock Sees Selling Pressure After The Recent Jump

SFLMaven Corp (OTCMKTS:SFLM) shares lost 10% in the last trading session.

Market Reaction

On Tuesday, SFLM stock lost 10% at $0.0027 with more than 6.94 million shares, compared to its average volume of 10.85 million shares. The stock has moved within a range of $0.0027 – 0.0031 after opening the trade at $0.0030.

Recent News

Recently the luxury goods provider announced further enhancement of its core metrics in October, featuring YoY accelerated growth in volume, sales, and web analytics metrics and continued MoM strength on a pre-auction basis per month.Total sales in October were $864,377 or over $126,000 per auction sales representing YoY growth of 42%. Also, there was a 29% YoY increase in sales volume in October on a per auction basis. Additionally, the company reported more than 33.5 million web impressions and close to 362,000 page views in October, indicating web presence growth YoY and every month.

The company’s CEO Joseph Ladin said that October showed another solid month in terms of key performance measures with robust growth witnessed in sales volume, sales, and web presence. In addition, Ladin said the company benefits from exceptional situational and seasonal factors, and they expect the tailwinds to continue for the rest of 2021. Therefore, in the coming months, SFLM is worth watching.

Traders Review

SFLM stock is trading below 20-Day and 50-Day Moving averages of $0.0032 and $0.0038 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0056. The stock is down 32% over the past month.

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