Gaucho Group Holdings Inc (NASDAQ:VINO) Stock Falls Again: Slump 50% in a Month
One of the stocks to have continued to struggle in recent weeks is that of Gaucho Group Holdings Inc (NASDAQ:VINO) and the selling pressure in the stock continued to sustain yesterday.
The Gaucho Group stock tanked by 11% yesterday and that took its losses for the past month to as much as 50%. The company is involved in operating a range of e-commerce platforms that offer leather good, fine wines and luxury real estate among others. There was no news about the company yesterday but earlier on this month on July 6 the company provided a corporate update that investors could consider looking into.
On July 6, the company revealed that it is continuing to work on is post coronavirus pandemic lot sales initiative. To that end, Gaucho Group has started bringing about considerable enhancements to its estate. The company expects that these enhancements are going to help in boosting the value of its estate. More importantly, the enhancements are also expected to help in boosting its lot sales. Scott Mathis, who is the Chief Executive Officer of the company, revealed that Gaucho Group has been working on such enhancement for the better part of the past year.
Market Reaction:
On Thursday, VINO stock fell 10.75% at $3.82 with more than 847k shares, compared to its average volume of 1.24 million shares. The stock had moved within a range of $3.6500 – 4.2800 after opening the trade at $4.28. Over the past 52-week, the stock has been trading within a range of $3.0300 – 21.4500.
