Stock broke the 200 MDA on low volume over the past few days. Considering how thinly this trades TA is more of a psychological support level than anything as it is so easily manipulated one way or the other.
Funny how $10K in volume can make a company drop $10M in marketcap, and vice versa. But that is how OTC stocks work.
I'm curious how the price/action will change if the company can successfully uplist to a higher exchange. Probably not much at first considering the few trades that are executed on a daily basis means the bigger stockholders aren't selling, and the retail buyers are not coming in. As such, the MM's create a market with their existing inventory and move the price until someone steps in. An uplisting will help open the stock to fringe investment firms that avoid the OTC, but I don't foresee the stock action changing much.
Things to look for, in no particular order:
1) Next financial report (anticipated mid-January) will show what synergies were gained with the merger
2) FCC license update - how is the footprint growing? National partnerships?
3) Updates on key IoT initiatives.
4) uplisting
5) cash on hand / burn rate / financing / dilution. Recent short-term financing and share lock-up helps, but company is still a going concern.
The stock has a few years to go before we see any sort of price stability in my opinion.
In the meantime it will continue to be a wild ride in either direction.
