It was a fairly harrowing day for investors in eWorld Companies Inc (OTCMKTS:EWRC) on Wednesday as the company’s stock suffered from a massive selloff and went down by as much as 48% as a consequence.
Market Reaction
On Wednesday, EWRC stock plunged 48% to $0.0058 with more than 5.38 million shares, compared to its average volume of 677k shares. The stock moved within a range of $0.0049 – 0.0124 after opening trade at $0.0113.
eWorld Companies, Inc. Secures Real Meta Tech LLC as Lead Marketing Partner for Bitcoin Wine NFT
In light of such a massive decline, it may be time for investors to figure out if the stock is going to continue to slide today or if a quick recovery might be on the offing. Yesterday, the company was in the news after it announced that eWorld Companies, along with its fully owned subsidiary unit Angelini Trading Company, had struck an agreement with the company Real Meta Tech LLC.
As per the provisions of the agreement signed between the two parties, Real Meta Tech is going to function as the lead marketing partner in eWorld Companies’ Bitcoin Wine Project. Real Meta Tech is going to be tasked with the job of deploying its expertise for the purpose of marketing the Bitcoin Wine. While the announcement was a fairly positive one, the whole thing did not really seem to have been welcomed by investors and the stock tanked as a consequence of a deep selloff. It remains to be seen if it can recover today.
Key Quote
eWorld Companies CEO Pablo Wagner commented, “This marks a huge milestone for our company and our Bitcoin Wine NFT project. After four months of interviewing, cross examining, due diligence and critical thinking, we are confident that Real Meta Tech LLC is the perfect choice to lead this promotion. While it’s never possible to project actual future events, we have always believed that with the correct marketing approach we could quickly sell out our entire inventory of 10,000 Bitcoin Wine NFTs @$1,000 each and generate $10,000,000 in sales within a very short time frame. We believe Real Meta Tech has the staff, the experience, the tools and the track record to help us achieve that goal.”
Traders Review
EWRC stock is trading above the 20-Day and 50-Day Moving averages of $0.0054 and $0.0031 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0054.
