One World Universe Inc (OTCMKTS:OWUV) Stock Suddenly Jumps: Here is Why

One World Universe Inc (OTCMKTS:OWUV)  is well known for being an investor in sports related business outfits, emerging industries and in distressed businesses. This past Friday the One World stock was one of the significant movers as it soared by as much as 40% amidst heavy action.

Market Action:

On Friday, OWUV stock gained 39.71% at $0.0292 with more than 4.62 million shares, compared to its average volume of 390.15K shares. The stock has moved within a range of $0.0186 – 0.0310 after opening the trade at $0.0200.

Major Trigger

There was no significant news about the company on Friday but the company applauded social media giant Facebook for changing its official name to ‘Meta’. The Chief Executive Officer and Founder of Facebook, Mark Zuckherberg, made the announcement last week during the course of the Facebook Connect event.

At the event that took place last Thursday, the Facebook chief spoke about a new virtual metaverse and spoke about how the company is going to influence it.

One World Universe also announced on Friday that it had managed to bag the domain name OneWorldMetaverse.Com and was looking for ways in which it could use it to cash in on the metaverse trend. Jerry C Craig, the Chief Executive Officer of the company, stated that if a giant like Facebook was moving in that particular direction then it could make sense for One World to do the same as well.

Traders Corner

OWUV stock is trading above the 20-Day and 50-Day Moving averages of $0.0282 and $0.0288 respectively. However, the stock is trading below 200-Day moving average of $0.0317. The stock is down 15% in the past 6-month.