4Less Group (OTCMKTS:FLES) Stock In Focus After Latest Development
The four days starting from Black Friday up until Cyber Monday are a busy time for most consumer focussed companies. Yesterday, The 4Less Group (OTCMKTS:FLES) announced that during that four day period starting November 26 and ending on November 29, it managed to generate net sales to the tune of as much as $945,000.
Market Stats
On Wednesday, FLES stock fell 7.40% at $1.75 with more than 43k shares, compared to its average volume of 25k shares. The stock has moved within a range of $1.7500 – 1.9900 after opening trading at $1.92.
Latest News
In this regard it is also necessary to point out that it was a strong performance from 4Less and recorded year on year growth of as much as 410% from the gross sales of $230,000 during the same period in 2020.
However, the numbers did not really lead to any boost for the 4Less Group stock and the stock actually declined by as much as 7.5% as investors expressed their disappointment. As a matter of fact, the President and Chief Executive Officer of the company, Christopher Davenport, actually stated that the gross sales figure was beyond expectations. While he did expect that the year on year rise in sales was going to be considerable, he noted that the $945,000 figure proved to be ‘a nice surprise’. It is now going to be interesting to see if the 4Less stock can make a turnaround today.
Traders Corner
FLES stock is trading above the 20-Day and 50-Day Moving averages of $1.69 and $1.48 respectively. The stock is trading in neutral zone with RSI stands at 54. The stock is up 52% in the past month.
