Silo Wellness Inc (OTCMKTS:SILFF) Stock Extends Fall: Down 11% In a Week

Worldwide psychedelics company Silo Wellness Inc (OTCMKTS:SILFF) may have made a significant announcement yesterday but it did not do much for its stock, which continued to slide. The stock continued to suffer from a selloff and went down by as much as 3% yesterday. That took the decline over the course of the past week to as much as 11%.

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On Wednesday, SILFF stock slid 3.56% at $0.0434 with more than 14k shares, compared to its average volume of 48k shares. The stock has moved within a range of $0.0400 – 0.0434 after opening trading at $0.04.

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However, in this regard, it is also necessary to consider the fact that the company announced yesterday that it common shares had become eligible for settlement as well as clearing through the Depository Trust Company in the US.

All those stocks which can be settled and cleared through the Depository Trust Company are known to be ‘DTC Eligible’ and at this point in time the Silo Wellness stock enjoys that status. This status helps in quickening up the speed at which cash as well as the stock are received by investors.

Due to the higher speed, the stock becomes easier to trade for both brokers as well as investors. As a result of this convenience, the stock then becomes available through a larger number of brokerages. Hence, it can be said that the announcement from the company on Wednesday was a positive one.