Color Star Technology Co., Ltd. (CSCW), an entertainment and education company, has plunged 17.58% in aftermarket trading session and consequently is trading at $0.61 at the time of the writing. During Wednesday’s regular trading session, the stock plummeted 16.66% during the day and closed at $0.74. The stock is declining despite the announcement of excellent news by the company.
Color World Availability on Android App Stores
On Wednesday, CSCW announced that the entertainment metaverse “Color World” software would become available to be downloaded in Android App stores. The app has been downloaded more than 3 million times by users around the globe since its release on the iOS store. The current version of the app can reach more than 175 countries around the world.
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Lang Xian Catering Became Part of Color World App
On 10th February, CSCW announced that Lang Xian Catering, a well-known catering brand based in Dubai, would feature in the beta version of Color World App during the official launch of the app. The Color World App’s metaverse beta version was to dedicate Dubai as the representative city for displaying metaverse contents. Lang Xian Catering would be the first catering company to become part of the Color World App.
CSCW Collaboration with U-Shine Education
On 3rd February, CSCW reported that U-Shine Education Centre, a prominent educational company based in Dubai, would become a part of its metaverse platform ‘Color World’. Both the companies intended to utilize the advantages of metaverse for the development of educational programs in Color World after signing the agreement of cooperation.
Future Outlook for CSCW
Analysts believe that the stock holds several positive signals currently. However, they are not enough for it to be considered as a buy candidate. Hence, investors should make prudent decisions while investing in CSCW stock.
