Meten Holding Group (NASDAQ:METX) Stock Continues to Trend Lower On Profit Booking

It was a pretty tough time for investors in the Chinese company Meten Holding Group (NASDAQ:METX) as the company’s stock continued to slide amidst a heavy selloff. This past Friday, the stock went down and ended the day with a decline of as much as 5%.

Market Stats

On Friday, METX stock slid 5.50% at $0.5577 with more than 76.85 million shares, compared to its average volume of 90.37 million shares. The stock has moved within a range of $0.5529 – 0.6180 after opening trading at $0.5744.

Major Trigger

That took its cumulative decline for the whole of last week to as much as 23%. Although the decline in the Meten Holding Group stock was substantial and the outlook with regards to Chinese businesses remains uncertain, it could be a good idea to take a closer look at the company at this point.

The company is involved in the fast growing education technology space and even before the decline the stock remained quite affordable. In addition to that, there is significant potential for upside as well.

That being said, investors also need to remember that low priced stocks like the Meten Holding Group stock are also known for being volatile and big swings in price. Hence, one would need to keep that in mind before deciding on a course of action. The company has recently decided to move into the blockchain space as well and that is another factor that investors ought to remember.

Traders Corner

METX stock is trading above the 20-Day and 50-Day Moving averages of $0.52 and $0.40 respectively. However, the stock is trading below the 200-Day moving average of $1.22. The stock is up 78% in the past month.