Shares of Delaware corporation (OTCMKTS:CLCN) pulled back on Friday, but gained 10% last week.
Market Reaction
On Friday, CLCN stock fell 6% to $0.16 with 722K shares, compared to its average volume of 76K shares. The stock moved within a range of $0.1401 – 0.1850 after opening trade at $0.1701.
DriveItAway Consummates the Share Exchange with Creative Learning Corporation
Delaware corporation (OTCMKTS:CLCN) focusing on mobility platform enabling car dealers to sell vehicles through eCommerce, DriveItAway, Inc on March 3, 2022 announced completion of Plan of Share Exchange with Creative Learning Corporation.
This will enable Creative Learning to acquire all outstanding and issued shares of DIA by issuing a single share of Series A Convertible Preferred Stock. The Share Exchange will make DIA a wholly-owned subsidiary of Creative Learning. Shareholders of DriveItAway, Inc will benefit by owning about 85% of the the company common stock.
DriveItAway’s CEO John F. Possumato is the CEO and the firm will be focusing now on automotive mobility technologies. It will also be focusing on growth of ensuring entry level consumer play for electric vehicles with the unique “pay as you go” subscription to ownership program.
John F. Possumato, CEO of Creative Learning/DriveItAway said that the new development being public company will be able to fulfil two goals. It includes adding more national national visibility and growth to inclusive platform, enabling ability to buy vehicle of choice from any dealers chosen. The CEO added that the second goal of the merger will to be enable more people to share as a mission driven, ESG, focused automotive company for eliminating transportation problems faced by entry level employees.
Key Quote
DriveItAway’s CEO John F. Possumato is now CEO of the Company, and the DriveItAway team has taken over management control, as the company will now focus exclusively on automotive mobility technologies and programs, with a new focus on the growth of enabling entry level consumer access to electric vehicles, with its unique “pay as you go” subscription to ownership program.
Traders Review
CLCN stock is trading above the 20-Day and 50-Day Moving averages of $0.1544 and $0.1567 respectively. However, the stock is trading below the 200-Day moving average of $0.1677.
