A stock may often fall sharply in a day but at the same time it could be an opportunity for investors who might want to bet on a recovery and hence, it may be a good move to look into the Unique Logistics International Inc (OTCMKTS:UNQL) stock today.
Market Reaction
On Friday, UNQL stock slumped 27% at $0.0166 with more than 15.67 million shares, compared to its average volume of 4.29 million shares. The stock moved within a range of $0.0145 – 0.0240 after opening trade at $0.0220.
Key Details
The stock had been in the middle of a freefall on Friday and had gone down by as much as 22% as a consequence. In this context, it could be a good move for investors to consider the fact that back on April 21 the fast growing worldwide logistics and freight forwarding firm had announced that it had hired the services of MZ Group.
MZ Group is a global investor relations firm and its services have been sought by Unique Logistics for the purposes of heading its investor relations and financial communications initiatives. MZ Group is going to be involved in leading the company’s initiatives in all the main market.
While the announcement from Unique Logistics was an important one, it did not lead to much of optimism among investors and the stock tanked sharply. It now remains to be seen if the stock actually manage to make a recovery today.
Key Quote
Sunandan Ray, CEO, Unique Logistics International, Inc. said, “We are confident about the positive direction of the company and the progress we are making as a logistics service provider. We believe that having MZ as a partner to broaden our message to the investment community will be integral to achieving a fair valuation. We look forward to working with Brian and the entire team at MZ Group to communicate the multiple avenues to drive growth and building long-term value for our shareholders.”
Traders Review
UNQL stock is trading below the 20-Day and 50-Day Moving averages of $0.0281 and $0.0283 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0339. The stock is down 60% over the past 6-month.
