Boatim Inc (OTCMKTS:BTIM) Stock Makes An Interesting Move: How To Trade Now

Boatim Inc (OTCMKTS:BTIM) stock continues to trend higher in the previous trading and extended its weekly fall to 14%.

Market Action

On Friday, BTIM closed up 0.46% at $0.2390. More than 19k shares have exchanged hands, below its average volume of 16k shares. The stock opened at $0.2387 and moved in a range of $0.1820 – 0.2390.

Boatim Announces Consumer Mobile Application

Here are the highlights:

Boatim announced a forthcoming mobile application.

With a potential market of over 100 million digitally savvy boat users, Boatim’s mobile application would bring significant revenue into the company, bringing it closer to its goal of listing on the NASDAQ.

Until now, Boatim has focused primarily on business to business SaaS products created to streamline and expedite boat buying. Recently, however, Boatim’s Charter Service was secretly launched and has  begun matching Boatim members with charter vessels throughout the Mediterranean.

Boatim expects to begin to receive revenue from these new products during the second quarter of 2022 but has not commented on planned pricing or given any further details.

Key Quote:

“This mobile app will solve the problems that Google and other search engines have created for boaters” explained CEO Joseph Johnson.  “Boatim’s marketplace already connects buyers and sellers of watercraft despite Google’s interference with their search results. We generate leads and help people find their boats. Now we are using that technology to help people quickly find everything else they need to enjoy their time on their boats, right from the palm of their hand.”

Trader Notes:

BTIM stock has underperformed recently with a fall of over 52% in the past 6-month. On the technical basis, the stock is trading below its 50-day and 20-Day SMA stand at $0.2590 and $0.2631 respectively. Moreover, RSI at 44 signals that the stock is trading near the neutral zone.