The past week has been quite difficult for investors in SEATech Ventures Corp (OTCMKTS:SEAV) as the company’s stock suffered from a selloff and ended up with a decline of as much as 28% during the period.
Market Reaction
On Tuesday, SEAV stock ended flat at $1.23 with more than 5.7K shares, compared to its average volume of 680 shares. The stock moved within a range of $1.2300 – 1.2300 after opening trade at $1.30.
SEATech Ventures Corp’s Incubatee AsiaFIN Holdings Corp Has Obtained Trading Symbol
In this situation, it may be a good idea for investors to try and figure out if the stocks is going to continue to decline or if it is going to make a recovery any time soon. As it happens, the SEATech Ventures stock was in focus yesterday as well after the company announced that AsiaFIN Holdings Corp, its first client, had managed to get a trading symbol.
It was a significant development for SEATech Ventures, however, it is also necessary to mention that AsiaFIN had managed to get its S-1 Effectiveness in 2021 from the United States Securities and Exchange Commission. At the time, the company had been given the approval for listing its stock in the United States.
The company has also managed to conclude its fund raising through an initial public offering. It remains to be seen if there is any direct impact on SEATech Ventures due to the latest development over the course of the coming days.
Key Quote
CEO of SEATech Ventures Corp, Mr Chin Chee Seong said, “This achievement is a great testament to our business model and strategy. As this is the first of many to come, AsiaFIN’s success story will continue to inspire and pave the way for the companies currently under our incubation model, as well as all future aspiring Unicorns.”
