MultiMetaVerse (NASDAQ:MMV) Stock Price Down 51% – Should You Sell?

MultiMetaVerse Holdings Limited (NASDAQ:MMV) dropped 51% on Friday . The company traded as low as $0.48 and last traded at $0.48. Approximately 1,515,948 shares were traded during mid-day trading, an increase of 225% from the average daily volume of 466,679 shares. The stock had previously closed at $0.98.

MultiMetaVerse Stock Performance

The company has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.55.

Hedge Funds Weigh In On MultiMetaVerse

An institutional investor recently bought a new position in MultiMetaVerse stock. Renaissance Technologies LLC acquired a new position in MultiMetaVerse Holdings Limited (NASDAQ:MMV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,100 shares of the company’s stock, valued at approximately $25,000. Renaissance Technologies LLC owned about 0.13% of MultiMetaVerse at the end of the most recent quarter.

MultiMetaVerse Company Profile

MultiMetaVerse Holdings Limited operates as an animation and entertainment company in the People’s Republic of China. The company offers a product portfolio, including animated content, comic books, short videos, collectibles, stationery, consumer products, and mobile games under the Aotu World brand, as well as action figures, stuffed dolls, apparel, costumes, trading cards, and other collectible functional items.