BlueCity Holdings Ltd (NASDAQ:BLCT) Stock Consolidates After The Recent Fall

There were plenty of stocks which recorded declines on Tuesday and one of those was the BlueCity Holdings Ltd (NASDAQ:BLCT) stock. The company saw its stock suffer from a selloff and end the day with a decline of as much as 3% after it announced its unaudited financial results for the third fiscal quarter of 2021.

Trading Data

On Tuesday, BLCT stock moved down 3.05% to $1.59 with more than 25k shares traded, compared to its average volume of 149k shares. The stock has moved within a range of $1.5400 – 1.6200 after opening trading at $1.62.

Recent Developments

In this situation, it may be a good idea for investors to perhaps take a closer look at some of the highlights from the third quarter results. In the third fiscal quarter, the company managed to generate revenues to the tune of RMB270 million and that reflected a year on year decline of as much as 9.3%.

However, in this context, it is perhaps also necessary to point out that the monthly active users count for the company’s apps during this period hit as much as 7.5 million. That reflected a significant jump of as much as 19.3% from the prior year period. The total number of paying users, on the other hand, stood at 776,000 at the end of the third quarter. That worked out to a year on year rise of as much as 57.1%.

Technical Data

BLCT stock is trading below the 20-Day and 50-Day Moving averages of $1.96 and $2.54 respectively. Moreover, the stock is trading below the 200-Day moving average of $5.76. The stock is down 42% in the past month.