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Why The Moxian (MOXC) Stock Losing Grounds Premarket?

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In premarket trading, shares of offline-to-online (O2O) social media services and Internet media marketing services provider Moxian Inc. (MOXC) fell -12.64% to trade at $10.30. Thursday’s closing price of $11.79 was a gain of 0.60% for the MOXC stock. Moxian stock volume fell to 0.71 million shares, significantly less than the average daily volume of 1.75 million shares over the past 50 days.

Because MOXC stock has been falling without any current news, we can therefore refer to recent developments to gain a deeper understanding of MOXC.

How did things go at MOXC recently?

Founded Moxian was founded in 2013 in Beijing, China, and has subsidiaries in Malaysia and Hong Kong. MOXC is a provider of social media and Internet marketing services, as well as an O2O integrated platform operator. Chinese social network MOXC integrates social media and business into a single platform.

MOXC’s products and services provide merchant clients with the ability to study consumer behavior through interaction with users. MOXC provides services to small and medium-sized businesses. The company had been called Moxian China, Inc. until July 2015, when its name changed to Moxian, Inc.

In Recent developments have resulted in Moxian terminating its proposed merger with the Btab Group, Inc., a Delaware corporation.

  • The agreement was terminated by mutual consent in accordance with the terms of the August 27, 2020 Share Exchange Agreement.
  • MOXC and Btab Group signed a material share exchange agreement in August last year.
  • A portion of the MOXC common stock , 59 million, and a portion of the MOXC class A preferred stock , 50 million would have to be issued pursuant to the agreement.
  • In a business combination that will produce a merged entity with a value of over $400 million and an annual revenue of at least $40 million, those MOXC shares were to be issued in exchange for the entire equity of Btab.

Insight into MOXC performance:

Alternatively, if no relevant news are available, the stock’s performance could provide a better insight into its potential. MOXC shares have risen by 1055.88% over the last 12 months, but they have declined by -24.37% over the past week. MOXC stock has gained 251.94% over the past three months, while it has gained 821.09% over the past six months. Aside from that, the share count stands at 16.19 million shares and the market capitalization of the company is $240.16 million.

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