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Sunday, July 3, 2022

Color Star Technology Co., Ltd. (CSCW) Stock Faltering in Premarket, Here’s the Cause

Color Star Technology Co., Ltd. (CSCW), an entertainment and education company, has plunged 7.32% in the premarket trading session. Consequently, the stock was trading at $0.25 when last checked. During Friday’s regular trading session, the stock rose 8.42 percentage points to close the day at $0.27. The decline in premarket could be attributed to recent champion league-related development.

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Accolade for Villarreal

On Friday, CSCW congratulated Villarreal CF, its partner, for advancing in the quarter-final of the Champions League. In February 2022, a subsidiary of Color Star Technology, Color Sky Entertainment Limited, entered into a partnership with Villarreal CF. CEO of Color Star, Lucas Capetian, commented that both the parties have gelled together quite well since the first day of partnership. The company anticipates further enhancing its partnership with Villarreal for achieving greater success in the future.

CSCW Agreement with Guangxi Qiuyinong

On the 9th of March, CSCW announced that its subsidiary Color Sky Entertainment Ltd. has entered into a cooperation agreement with Guangxi Qiuyinong Trade Co., Ltd. The tea brand of Guangxi Qiuyinong would be introduced on the metaverse platform of the company. That would make it the first Asian tea brand to enter the metaverse platform.

Agreement with Bobaiyue Biotech

On the 4th of March, CSCW reported that Color Sky Entertainment Ltd. has entered into a cooperation agreement with Bobaiyue Biotech. The agreement is concerned with the establishment of a cell bank on the Color World metaverse platform. The company said that in the future, it would provide full play to its technology and consequently, would promote it with its partners across the globe.

What’s Next for CSCW?

Looking ahead, analysts are holding a negative evaluation of CSCW stock. The technical signals are providing a bleak picture for the stock at the moment. Hence, the stock is expected to perform poorly in the next couple of weeks. Investors should take careful decisions regarding investment in CSCW stock.

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