The Boatim Inc (OTCMKTS:BTIM) stock has been in the middle of a significant churn over the course of the past week and has declined by as much as 20% amidst a strong selloff. Investors who might be hoping for a quick recovery could do well to take a look at the announcement from the company on Monday.
Market Reaction
On Monday, BTIM stock ended flat at $0.12 with 12.2K shares, compared to its average volume of 35K shares. The stock moved within a range of $0.1100 – 0.1290 after opening trade at $0.1290.
Key Details
It announced yesterday that the Fire & Share Destinations iOS app that it had developed will now be available on the iOS app store as Better Boating. It is an app that is going to help boaters with the task of finding, saving and sharing boating destinations with fellow members of the boating community.
The latest launch is another example of the sort of work that Boatim has been able to do as a technology company towards the leisure boating industry. It seeks to provide individual boaters with a digital boating concierge and the latest app is aimed at the same market. Although the stock has performed poorly in the past week, it could be a good time now for investors to perhaps consider taking a closer look at it and keep an eye on future developments.
Traders Review
BTIM stock is trading below the 50-Day and 200-Day Moving averages of $0.1444 and $0.1808 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.2401.
