Alternet Systems Inc (OTCMKTS:ALYI) Stock In Focus After Latest Development

Yesterday, the Alternet Systems Inc (OTCMKTS:ALYI) stock suffered from a fairly strong selloff and ended the day with a decline of as much as 3% as a consequence.

Market Stats

On Monday, ALYI stock decreased 3.48% to $0.0097 with more than 5.44 million shares, compared to its average volume of 17.70 million shares. The stock moved within a range of $0.0097 – 0.0101 after opening trading at $0.0100.

ALYI 2022 Comprehensive EV Revenue Growth Outlook Firms Up

Despite the fall in the stock price, it is necessary to note that on Monday the company made a major announcement with regards to its plans for eventually generating revenues from sources other than its electric vehicle sales. Alternet noted that it was looking to bring in more revenues by exploiting the electric vehicle ecosystem that it has building by way of partnerships.

On the other hand, Alternet Systems also noted that its organic target which had earlier been pegged at $10 million has now been moved to $50 million. That is another indication of the fact that the company is quite bullish about its prospects over the long term. However, such projections did not quite impress investors on Monday and the stock promptly suffered from a selloff.

At this point of time, it is going to be interesting to see if further news about the company’s operations can help it in making a recovery or not. Hence, it may be a good idea to keep an eye on the news with regards to Alternet Systems.

Traders Corner

ALYI stock is trading below the 20-Day and 50-Day Moving averages of $0.0105 and $0.0117 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0250.