One World Universe (OTCMKTS:OWPC) Stock Rockets 17%: Here is Why

Shares of One World Universe (OTCMKTS:OWPC) ended sharply higher in the previous trading session after key updates.

Market Reaction

On Monday, OWPC stock moved up 8.90% to $0.0980 with more than 169K shares, compared to its average volume of 149k shares. The stock has moved within a range of $0.0820 – 0.0980 after opening trade at $0.0900.

Updates Shareholders on Stock Repurchase Program

California business with a mission of implementing global humanitarian efforts,  One World Universe (OTCMKTS: OWUV) on November 29, 2021, updated the investment community on the announcement made last week on its Twitter account regarding shares bought back by CFO Caren Currier.

The company, which invests in sports businesses and distressed assets in emerging industries that helps it to provide humanitarian assistance in 185 countries confirmed the development.

Caren Currier, CFO of the firm said that both he and Jerry are looking to buy back about 5 million over the course of the year.

He added that this would add the amount to the treasury and allay concerns of shareholders. The company announced a plan of entering Metaverse space with 2 extra acquisition acquisitions by year-end.

In the previous quarter, management has positioned itself to expand on holdings to add value both to its shareholders and the company. One World also confirmed a number of meetings with entrepreneurs and celebrities for discussing business opportunities.

Key Quote

“Both Jerry and I are looking to buy back around 5 million shares sporadically over the remainder of the year. Our goals are to deposit these shares back into the treasury to ease the dilution concerns of our shareholders and potentially use these shares as leverage in negotiating with our acquisition targets,” stated Caren Currier, CFO of One World Universe.

Traders Review

OWPC stock is trading below the 50-Day and 200-Day Moving averages of $0.1041 and $0.2007 respectively. However, the stock is trading above the 20-Day moving average of $0.0932. The stock is down 43% over the past 3-month.

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