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Movement Industries Corporation (OTCMKST:MVNT) Stock Under Pressure: Company Appoints New CFO

Ash K , , , ,

Movement Industries Corporation (OTCMKST:MVNT) is down 40% in a week. The company has named Jack Leal as its CFO to oversee its financial aspects.

Market Stats

On Wednesday, MVNT stock fell 4.70% to $0.0314 with more than 2.56 million shares, compared to its average volume of 962K shares. The stock moved within a range of $0.0290 – 0.0349 after opening trading at $0.0340.

Movement Industries Corporation Appoints New CFO and Increases Revenues by Approximately 84% over Previous Quarter

This role entails preparing periodic financial statements for external and internal financial accounting purposes, such as consolidated financial statements, accounting records, and cash flow statements, and preparing external statutory documents for various governmental agencies, such as the Securities & Exchange Commission. His responsibilities will additionally include treasury administration, accounts receivable, accounts payable, inventories, and fixed assets, as well as the coordination, monitoring, and evaluation of internal controls in different financial departments.

Mr. Leal commented that he believes in the company’s products and services. In addition, he said that his goal is ensuring the company and its shareholders receive timely and accurate financial data ensuring the company moves forward to more excellent growth prospects. Mr. Leal has over 27 years of management-level experience in tax, accounting, and compliance in publicly held and private companies. So MVNT is worth watching in the coming weeks.

Key Quote

Mr. Leal, new Chief Financial Officer, affirmed, “I personally believe in our Company’s products, services and our CEO, Mr. Nguyen. My goal is to ensure that the Company and stakeholders are receiving timely and accurate financial information, which ensures the Company can move toward even greater growth opportunities.

Traders Corner

MVNT stock is trading below the 20-Day and 50-Day Moving averages of $0.0394 and $0.0387 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0461.