VERB Stock Price Surge 347% After the Integration with TikTok
On Tuesday, September 5, 2023 VERB stock price surged by 347.24% after VERB Technologies announced a partnership social media platform TikTok. The partnership will allow VERB to integrate its live stream e-commerce application verbLIVE with TikTok’s cloud-based solutions.
This partnership will enable TikTok users to watch engaging content on TikTok and effortlessly access and purchase the products showcased by VERB’s hosts, vendors, and creators without leaving the TikTok app. The partnership will also benefit VERB by expanding its market reach, increasing its revenue streams, and improving its competitive edge.
However, on Wednesday, September 6, 2023, VERB stock declined by 40% after the massive rally on Tuesday. The decline was likely due to a combination of factors, such as profit-taking by investors who wanted to lock in their gains, market correction after a sharp spike in price, valuation concerns over VERB’s high price-to-sales ratio, and competition from other players in the video marketing space.
Despite the decline, VERB stock still has much potential for growth and innovation, as it has shown impressive performance and progress over the past year. VERB has increased its customer base, diversified its product offerings, improved its financial results, and secured several strategic partnerships and acquisitions.
VERB is a software-as-a-service (SaaS) company that provides interactive video-based sales and marketing solutions for various industries and sectors. VERB’s products and services help businesses increase customer engagement, conversion, and retention by enabling them to create, share, and track personalized and interactive videos that can be embedded with live in-video e-commerce, clickable calls to action, real-time analytics, and CRM integration.
Verb Technology stock gave some good returns in recent times, in the span of 3 months it gave a return of 40% and gave a spike of 75% in the previous month, and last week it gave a fabulous return of 133.33%
Analyzing VERB Stock Price Technical Indications
Source: VERB.NASDAQ by TradingView
VERB Technologies stock is currently between the 50-day and 200-day SMAs, although these levels are attempting to provide support. If VERB can hold above 50 EMA then the potential for price recovery to targets of $3.00 and $5.00. Falling below current could lead to support tests at $1.50 and $1.00.
MACD indicator displays a bullish scenario, with the MACD line crossing above the signal line, suggesting impending further advancement. RSI is at 59, within the overbought zone, but the 14-day SMA is below the median line.
Conclusion
VERB Technologies partnered with social media platform TikTok., on September 5, 2023. VERB stock soared by 347.24% as investors liked the deal. But on September 6, 2023, Verb Technology stock fell by 40% as the market adjusted and some investors sold. Technical indicators reinforce the unclear outlook for Verb Technology stock. Investors and traders need to wait for any directional change before taking the next move.
Technical Support and Resistance level
Resistance levels: S1 = $3.00 and S2 = $5.00.
Support levels: R1 = $1.00. and R2 = $1.50.
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.
