The New credit bureau named Ecrid Inc (OTCMKTS:ECDD) was in the middle of a pretty difficult time in the markets as its stock tanked spectacularly and ended the day with a decline of as much as 40%.
Market Reaction
On Wednesday, ECDD stock slumped 42.12% to $0.2486 with 6.3k shares, compared to its average volume of 1.5k shares. The stock moved within a range of $0.2489 – 0.3590 after opening trade at $0.2489.
New Credit Bureau ECRID Partners with SRAX Nasdaq
It goes without saying that the crash in the stock on Wednesday was alarming but it may also be a good idea for investors to take a look at the development that led to it. Yesterday, ECRID came into focus after it announced that it had managed to go into a partnership with data management services leader SRAX.
The announcement was a significant one considering the fact that SRAX offers its services to as many as 250 clients all over the world and is mainly focussed on capital markets, customer acquisitions and investors awareness.
While it is true that the company noted that it was excited with regards to the new alliance, the investors were clearly not excited with regards to the situation. It is going to be interesting to see if the ECRID stock can actually make a recovery in the coming days. It might be a good idea to keep track of the stock and watch for any possible rebound.
Traders Review
ECDD stock is trading below the 20-Day and 50-Day Moving averages of $0.4301 and $0.4461 respectively. Moreover, the stock is trading below the 10-Day moving average of $0.3906.
