Published On: Mon, Oct 3rd, 2016

Hollywall Entertainment Inc (OTCMKTS:HWAL) Continues Its Decline Following Promising Update

Hollywall Entertainment Inc (OTCMKTS:HWAL) has been slowly declining in the stock market, since its last press release, filed in September 19. The stock has lost more than $0.02 per share in the last two weeks. The company announced, in the press release, that it has completed its due diligence with ASG Entertainment and was ready to move ahead with the acquisition. HWAL stated that it would be creating a new subsidiary, Aspire Hollywall Inc, which would facilitate all ASG operations.

This was also accompanied by the news of a change in leadership, as the CEO of ASG, Robert Maerz, as the new president of Hollywall. Moreover, Alice Neuhauser, Marty Fink, Charles Theiss and Marlene Klingeman were appointed as CFO, CRO, CTO and CAO, respectively. All of the aforementioned executives were hired from ASG Entertainment. The CEO of HWAL, Darnell Sutton, claimed that his company had an ever growing reputation, which was going to be further enhanced by the new acquisition. He commented that the acquisition was complementary to their current strategy of monetizing and creating the finest entertainment content.

Even though the news was encouraging, it had failed to spark investor interest in the stock. This could possibly be due to the fact that the company had built hype around the news, prior to its release, through an earlier update. As such, the stock had slowly climbed, before significantly reversing its gains the session after the announcement. A filing from September 12 hinted at updates about growth activities, hiring of senior executives, upcoming projects and acquisitions.

The announcement had been made at a time when the stock was experiencing volatile trading in the market. When the company did not provided an update omitting upcoming projects and growth activities, the stock lost investor interest significantly. It should be noted here that HWAL is yet to officially announce the launch of its new subsidiary, two weeks after its announcement.

Hollywall Entertainment Inc (OTCMKTS:HWAL) recorded a surge in its share value, during the September 30 trading session, to close at $0.0051 per share.

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