Last Friday the Blue Diamond Ventures Inc (OTCMKTS:BLDV) stock was trading in the middle of a range and it was perhaps understandable considering the fact that there was no news about the company on the same day.
Market Reaction
On Friday, BLDV stock fell 0.70% at $0.0010 with more than 1.66 million shares, compared to its average volume of 9.21 million shares. The stock moved within a range of $0.0010 – 0.0011 after opening trade at $0.0010.
Blue Diamond Ventures Inc. Completes Review with OTC
However, the day before, the company actually sent out a press release with regards to the fact that it had been going through a thorough review of all the shares that had been issued in the past two years. In addition to that, the company had also been working on the confirmation of shareholder equity as well as the status of entirety of all preferred shares.
The company announced on Thursday that the review in question had actually been completed and the resultant report had been posted on the OTCIQ platform.
In this regard, Blue Diamond Ventures also thanked the OTC Markets for the patience that it had displayed and the support it had provided so that the company could upgrade its reporting standards. It goes without saying that the development was a significant one since it is expected to lead to far greater transparency and that is something that can only be a good thing for a publicly listed company.
Traders Review
BLDV stock is trading below the 20-Day and 50-Day Moving averages of $0.0011 and $0.0012 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0019.
