Yesterday, the Bots Inc (OTCMKTS:BTZI) stock fell sharply after it made a major announcement and ended the day with declines of as much as 17%. While the magnitude of the decline in the stock may be alarming, it is also necessary to point out at this point that despite the fall yesterday, the BOTS stock is still up by 15% in the past week.
Market Reaction
On Monday , BTZI stock fell 17% to $0.0415 with 1.33 million shares, compared to its average volume of 6.50 million shares. The stock has moved within a range of $0.0402 – 0.0550 after opening trade at $0.0500.
Becomes First Pubco to Provide Seller Financing for Virtual Real Estate in a Unique Metaverse Design to Replicate Terrestrial Vegas
Yesterday, the company came into focus among investors after the company announced that it was going to provide seller financing for the purpose of speeding up the development of its Metaverse. The Metaverse in question that is going to be developed by the company is going to be based out of terrestrial Las Vegas.
It was noted that BOTS will be responsible for providing low interest seller financing to those buyers who are qualified. More importantly, the company is going to offer as much as 100% financing. It was a major announcement from the company and could prove to be a significantly important initiative in the long term. However, at this point, it is clear to see that investors are not particularly thrilled about the whole thing. Could the stock bounce back today?
Key Quote
“We believe that seller financing for the Metaverse Economy and ‘VEGAS.MV’ represents the best strategy to build out a Vegas-style Metaverse which shall include hotels, casinos, real estate, and a plethora of Las Vegas-style virtual entertainment. We plan to offer exclusive partnerships to build a Metaverse experience on www.Vegas.MV, which will become a global online virtual platform for collective experiences connecting millions of people every day,” commented Simon Rubin, BOTS, Inc. Chairman and Interim CEO.
Traders Review
BTZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0465 and $0.0688 respectively. However, the stock is trading above the 200-Day moving average of $0.0743. The stock is up 277% over the past month.
