CUV Ventures Corp (TSXV:CUV) is having a rough day on the market today. The leisure stock has seen losses as much as -30% on the TSXV. What’s the reason for the sudden drop? It isn’t immediately clear at this time. CUV just released a corporate update, and it seems investors aren’t impressed. Let’s get into it!
CUV Ventures Drops -20% Today
CUV Ventures holds various digital travel payment products that it offers its clients and each is a little different from one another. The corporate update today involves a majority of these products and their advancements.
Six days ago, the company released a statement regarding its PSD2 license stating it had made the final paid-up capital increase to 250K Euros for the PSD2 License approval. The PSD2 license is the second payment services directive designed by the countries of the European Union. As per the release today, the company should have final news on the PSD2 License for its RevolPAY S.L by March 8th, 2019.
All of CUV products work together, and the company announced today that its RevoluCHARGE is now complete. The release states that the company has analyzed all suppliers and RovoluCHARGE users will now receive the real-time, lowest priced phone top-up costs for a given top-up country. Customers must use the company’s REvoluPAY payment app to interact with RevoluCHARGE.
The company also released brief information regarding its new project RevolUTILITY. CUV Ventures states that it will work within the RevoluPAY app and will “allow the worldwide payment of utility bills and other related services.”
The company also released its new verticle of REvoluREALTY, which aims to simplify the buying and selling of real estate.
With all of CUV Ventures’ updates, it remains unknown what investors aren’t pleased with when it comes to company progress. It may be that the news of the PSD2 license being pushed back is causing the sharp sell-off of CUV stock today.
According to Yahoo Finance, CUV is currently trading at $0.21 a share, down -$0.05 (-20.75%).
Featured Image: Twitter