Short-term stake in Rakuten Group, Inc. (OTCMKTS:RKUNY) drops 37.2%

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Rakuten Group, Inc. (OTCMKTS: RKUNYGet a rating) experienced a sharp decline in short-term interest in March. As of March 31, there was short interest totaling 37,700 shares, down 37.2% from the March 15 total of 60,000 shares. Based on an average daily trading volume of 91,100 shares, the days-to-cover ratio is currently 0.4 days.

Shares of RKUNY traded down $0.05 during Friday trading hours, hitting $7.34. The stock had a trading volume of 34,045 shares, compared to an average volume of 39,820. The company has a 50-day simple moving average of $8.05 and a 200-day simple moving average of 9.37 $. Rakuten Group has a 12-month low of $7.32 and a 12-month high of $13.61.

Separately, Zacks Investment Research upgraded the Rakuten Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 6.

Rakuten Group Company Profile (Get a rating)

Rakuten Group, Inc provides Internet services in Japan and internationally. It operates through three segments: internet services, fintech and mobile segments. The Internet Services segment operates Rakuten Ichiba, an Internet shopping center; Rakuten Travel, online travel and booking site; Rakuten Rewards, a membership-based online cashback site; Rakuten Fashion, a fashion mail order site; Rakuten Books, an online book, CD and DVD store; 24-hour Rakuten necessities sales service; Rakuten Seiyu Netsuper, an online grocery delivery service; Rakuten Bic, an e-commerce site; Rakuten Rebates, a reminder service; Rakuma, a consumer-to-consumer mobile e-commerce application; Rakuten Super Logistics, a distribution and fulfillment service; Rakuten Drone, Drone/UGV delivery service; Rakuten Gora, an online golf course reservation; and Rakuten Marketing which provides performance marketing services.

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