It was not a particularly great day in the markets for The Coretec Group Inc (OTCMKTS:CRTG) investors as the company’s stock suffered from a selloff and went down by as much as 8%.
Market Reaction
On Monday, CRTG stock slid 8.26% to $0.0500 with 945K shares, compared to its average volume of 233K shares. The stock moved within a range of $0.0421 – 0.0600 after opening trade at $0.0547.
The Coretec Group to Host First-Quarter Investor Call in April, Highlight Battery Development
The company is involved in the development is involved in developing a group of engineered silicon for the purpose of serving the energy focussed industries. Some of the industries it is focussing on includes electric vehicles. Semiconductors, LEDs and consumer batteries among others. Yesterday, the company came into focus after it announced that it was going to host a shareholder call at some point in the middle to late period of April.
In that call, the company will be discussing its business activities in the first quarter of 2022. At this point in time, the company is heavily focussed on the development of a lithium ion battery that is equipped with a silicon anode. It is supposed to bring about significant improvement with regards to battery cycling stability. While the announcement from the company was an important one, it ought to be noted that it did not lead to any particular enthusiasm among investors. It now remains to be seen if the stock can actually make a recovery in the coming days.
Traders Review
CRTG stock is trading below the 20-Day and 50-Day Moving averages of $0.0508 and $0.0510 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0776.
