This morning many investors are possibly going to look into the AppSwarm Corp (OTCMKTS:SWRM) stock quite closely and look for a possible recover after it tanked by as much as 20% last Friday. In this situation, it may be a good idea to first have a look at the development from Friday and then make one’s mind up about the stock.
Market Reaction
On Friday, SWRM stock slumped 20% to $0.0042 with 7.21 million shares, compared to its average volume of 9.11 million shares. The stock moved within a range of $0.0042 – 0.0054 after opening trade at $0.0051.
AppSwarm Announces Cybersecurity Initiative for Oklahoma Energy and Aerospace Industry
The mobile apps aggregator and software developer announced on Friday that it was devising a sales strategy for its cyber security and data solutions. The solutions are specifically meant for the aerospace and energy industries in the state of Oklahoma and the larger Midwest region.
The company noted that the sales initiative has already been launched and it is going to focus on the energy companies in Oklahoma which are of middling size. In addition to data and cyber security consultation, AppSwarm is also going to offer threat detection software solutions to the clients.
It was a major new announcement from the company due to the considerable scope of the initiative. However, investors did not seem particularly impressed about the whole thing and now it is going to be interesting to see if the AppSwarm stock can manage to make a recovery.
Traders Review
SWRM stock is trading below the 20-Day and 50-Day Moving averages of $0.0042 and $0.0045 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0082.
