Metatron (OTCMKTS:MRNJ) Stock Pulls Back After The Recent Rally

Mobile and web technology pioneer Metatron (OTCMKTS:MRNJ) did not start the week well and on Monday, saw its stock tank by as much as 15% amidst a heavy selloff. Despite the fall in the stock price yesterday, it should however be noted that over the course of the past week, the stock has tanked by as much as 20%.

Market Reaction

On Monday, MRNJ stock fell 14.30% to $0.0006 with more than 291.80 million shares, compared to its average volume of 186.10 million shares. The stock has moved within a range of $0.0005 – 0.0007 after opening trade at $0.0007.

Metatron Announces Agreement with Real Estate Blockchain Platform

The company is a well-known player in its industry and has already created as many as 2000 mobile apps. Yesterday, the company announced that it had signed an agreement with the company Metrospaces for the purposes of marketing the latter’s MetroCrowd Real Estate TokenizationPlatform App.

It is a major development for the company and is an indication of the sort of work that Metatron has managed to accomplish for its clients. It is important to point out in this context that the company has managed to generate many millions of downloads for the apps of some of its top level clients over the years.

While the latest agreement is an important one, it did not lead to any particular enthusiasm from investors and in fact, the stock suffered from a heavy selloff. It will be interesting to see if the stock can bounce back today.

Traders Review

MRNJ stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0008 respectively. However, the stock is trading below the 200-Day moving average of $0.0010. The stock is down 14% over the past month.

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