In recent days the One Step Vending Corp (OTCMKTS:KOSK) stock has suffered considerably in the markets and that can be gauged from the price action in its stock. The stock suffered from a fairly strong selloff yet again and went down by as much as 13%. That took the decline over the course of the past week to as much as 22%.
Market Reaction
On Thursday, KOSK stock soared 13.57% to $0.0080 with 910k shares, compared to its average volume of 432K shares. The stock moved within a range of $0.0064 – 0.0100 after opening trade at $0.0070.
One Step Vending Corp. (KOSK), Announces Updates on its Vending Machines and Potential Cannabis Product Options
The company, which is involved in making acquisitions in the self-serving vending space, came into focus yesterday after it shared updates with regards to its joint venture with the company Foundation Farms 2021 Corp.
The update had been in relation to the 10 vending machines that had been shared by the company as part of the joint venture. However, things did not go to plan. One Step Vending announced that the machines had been sent to Las Vegas after having been customised and were in a ready to install state.
However, the breakout of the Omicron variant of the COVID-19 virus had led to considerable delays in installation. It was no surprise that the update came as a source of pessimism for investors and the stock suffered from a selloff yesterday.
Key Quote
Ronald Minsky, KOSK’s president, recently commented, “Covid may have delayed and potentially altered our original plans with our vending machines but it has presented us a greater opportunity.”
Traders Review
KOSK stock is trading above the 20-Day and 50-Day Moving averages of $0.0069 and $0.0071 respectively. However, the stock is trading below the 200-Day moving average of $0.0097.
