Exxe Group Inc. (OTCMKTS:AXXA) Stock Continues to Trend Lower: Falls 8%

Exxe Group Inc. (OTCMKTS:AXXA) fell 8% after the fintech firm announced vision, financial, and business targets and expected milestones.

Market Stats

On Monday, AXXA stock fell 7.66% at $0.0229 with more than 5.05 million shares, compared to its average volume of 3.43 million shares. The stock has moved within a range of $0.0222 – 0.0269 after opening trading at $0.0244.

Exxe Group Outlines Vision and Future Revenue, Business Targets

Since the start of fiscal 2002, the company has witnessed considerable shareholder’s equity and revenue growth despite the protracted impact of the pandemic. In the last two years, the company’s revenue grew to 24.3 million from $3.8 million in the first half of 2020 through 1H 2022, representing an almost fivefold rise. Over the period, the company’s net income grew from 259,000 in 1H 2020 to $4.7 million in 1H 2022. Notably, shareholder has grown 34.6% to $156.6 million from $116.2 million.

The company’s management expects record revenue in fiscal 2022 to be between $49 million and $53 million, with 15-20% net margins. By 2024 the company expects to generate revenue of $100 million and net income of $20 million. Since its inception, the company has executed close to two dozen contracts and LOIs for fixed-assets business acquisitions across various industries. So, AXXA is worth watching in the coming weeks.

Key Quote

Dr. Eduard Nazmiev, Exxe Group Chairman commented on the Company’s vision. “Since inception, Exxe Group has executed around two dozen deals and LOIs for majority-stake acquisitions in global businesses representing fixed assets and operating businesses in industries across the spectrum. Exxe’s recent successes have been driven by the successful migration and conversion to new digital strategies for our businesses, including bricks and mortar, which optimize the supply chain and execution. This approach has proven to lead us toward consistently high growth rates.”

Traders Corner

AXXA stock is trading below the 20-Day and 50-Day Moving averages of $0.0258 and $0.0278 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0440. The stock is down 9% in the past month.