Although global network company Color Star (CSCW) has been making several positive moves, it is nonetheless on the brink of losing its Nasdaq listing. So, let’s find out if it is wise to bet on the stock now.Entertainment technology company Color Star Technology Co., Ltd. (CSCW), which is based in New York City, recently announced that it has continued to increase its investment in product development for its key metaverse project features, which will be launched later this month.
The stock has gained 17.8% in price over the past month to close yesterday’s trading session at $0.65. However, the stock could lose its listing in Nasdaq if it continues to trade below $1.
CSCW stock has declined 21.8% in price over the past three months and 48.6% over the past six months and is currently trading 75.5% below its 52-week high of $2.67, which it hit on March 30, 2021. In addition, it is currently trading below its 50-day and 200-day moving averages of $0.68 and $0.92, respectively, indicating that it is in a downtrend.