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My Size Inc (NASDAQ:MYSZ) Stock Fall 8% in a Week: But Why?

Pete Matthews , , , ,

My Size Inc (NASDAQ:MYSZ) is one of the more innovative companies for being the creator as well as developer of smartphone clothing measurement solutions. However, over the course of the past week, the company’s stock has not performed well and has declined by as much as 8% during the period.

Market Stats

On Tuesday, MYSZ stock fell 1.72% at $1.14 with more than 3.43 million shares, compared to its average volume of 5.08 million shares. The stock has moved within a range of $1.0700 – 1.1900 after opening the trade at $1.17.

Enters Cooperation Agreement

In this situation, it might be a good idea for investors to perhaps take a look at an announcement from the company back on November 4. On the day, My Size announced that it had signed a cooperation agreement with the company Custodian Ventures LLC as well as with the latter’s affiliates.

However, that was not all. In addition to the announcement with regards to this particular agreement, the company also announced that it was also looking to unlock more value for its shareholders and to that end, it was looking for acquisition opportunities.

However, the company also noted that it was also looking into ways in which it could continue to commercialise its primary produce MySizeID. Although the stock has not performed well over the course of the past week, it could still be a good idea to keep the stock in your watch lists at this point in time.

Key Quote

“We are pleased to have resolved this matter and are committed to executing on our strategic plan, which includes evaluating acquisition opportunities to enhance value for stockholders.  In recent months, we have also announced business partnerships with Wix eCommerce, Dockers (Turkey), GK Software and Threads, further growing our market share around the world. Additionally, we believe the appointment of a seasoned industry executive to our Board of Directors in August and the consolidation of our IP portfolio exclusively within the Company positions My Size for future growth.”

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.