It was a fairly tough day for investors in the ORHub (OTCMKTS:ORHB) stock as it suffered from a significant selloff and ended the day with a decline of as much as 15%.
Market Reaction
On Monday, ORHB stock decreased 11.62% to $0.0317 with more than 200 shares, compared to its average volume of 78k shares. The stock moved within a range of $0.0220 – 0.0317 after opening trade at $0.0220.
Orhub’s Story Proves the Power of a Winning Culture
In this context, it ought to be noted that the company actually came into focus on Monday after the Chief Executive Officer and Chairman of the company C J Wiggins addressed the shareholders through a letter. In the letter, Wiggins spoke about the prospects of the company and the fact that the power of a ‘winning culture’ had been manifested at ORhub as well.
He went on to state that the company is determined to stay on its path to growing its business for the long term and it is that belief that is going to be the driver of its business strategy going forward. While it is true that those were fairly bullish sentiments from the CEO and Chairman of the company, it did not lead to much of optimism among investors at all. The stock suffered from a strong selloff and it is now going to be interesting to see if the stock can manage to make a recovery any time soon.
Traders Review
ORHB stock is trading below the 20-Day and 50-Day Moving averages of $0.0351 and $0.0362 respectively. However, the stock is trading above the 200-Day moving average of $0.0280.
