SFLMaven Corp (OTCMKTS:SFLM) Stock Continues to See Selling Pressure: Here is Why
SFLMaven Corp (OTCMKTS:SFLM) stock has been moving within a narrow over the past few trading amid lack of trigger. However, the stock has fallen over 20% in the past week.
Market Action
In the previous trading session, SFLM stock ended flat at $0.0040. A total of 7.55 million shares traded for the session hands, compared to its average volume of 15.57 million shares. The stock opened at $0.0042 and moved in a range of $0.0040 – 0.0043.
Key Trigger
SFLMaven Announces LOI with First Talented Artist for Creation of Unique NFT Portfolio
SFLMaven Corp announced the signing of a Letter of Intent (the “LOI”) between the Company and artist, Larry Calabrese, toward the creation of digital artwork to form the initial foundation of the Company’s new non-fungible token (“NFT”) strategy.
Calabrese is a self-taught visual artist born and raised in South Florida. He began painting around 2008 as a hobby that quickly evolved into an obsession. Over the years, he has amassed an impressive collection of completed works, from physical art to digital media. His artwork covers a vast array of different styles, from colorful abstract pieces to conceptual characters and landscapes based on sci-fi themes.
He is also an accomplished live artist, painting in front of crowds as large as 30,000 people in the Southeastern US.
Key Quote:
“Larry is a special talent, and we look forward to working with him as our first artist-partner on the creation of a limited batch of unique digital artwork capable of shaping taste and driving value for collectors and investors focused on non-fungible tokens,” commented Joseph Ladin, SFLMaven CEO. “At this point, we have the outlines of a tentative deal in place, and we are confident that it represents a strong initial foundation as we strive to position our collectibles marketplace segment as an emerging leader in the digital art and NFT marketplace.”
Trader Notes:
From the technical point of view, SFLM stock looks bearish with the stock trading below its 50-day and 200-Day SMA stand at $0.0042 and $0.0057 respectively. RSI stood at 47 – signals neutral trend.
