It has been a tough few days for investors in the company SmartMetric Inc (OTCMKTS:SMME) as the stock performed poorly and it continued yesterday as the stock declined by another 6%. The decline in the stock on Thursday took the total decline over the course of the past week to as much as 15%.
Market Reaction
On Thursday, SMME stock fell 6.15% to $0.0084 with 2.88 million shares, compared to its average volume of 1.72 million shares. The stock moved within a range of $0.0084 – 0.0090 after opening trade at $0.0090.
Biometric Fingerprint Activated Credit Cards Developed by SmartMetric Incorporate an Advanced Secure Cryptographic Processor for Storing the Users Fingerprint
Despite the poor performance from the stock, it ought to be noted that on Thursday SmartMetric actually made a major announcement. The company announced yesterday that the biometric activated credit cards that it manufactures have been upgraded further with the incorporation of advanced secure cryptographic processor.
This particular processor is going to help with the storage of fingerprints. It is going to store fingerprints in the same way those are stored in a mobile phone. Needless to say, it is also going to lead to greater security for the users. It is an innovative new move from the company and the long term benefits could in fact prove to be considerable as well. At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and keep an eye on further developments.
Traders Review
SMME stock is trading below the 20-Day and 50-Day Moving averages of $0.0130 and $0.0164 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0139.
