Next10 Inc (OTCMKTS:NXTN) Stock Fell 14% Last Week: Here is Why

Last week, there were many stocks which suffered from a selloff and thereby ended up with significant losses. Many of those stocks could be in focus today as investors hope for a rebound and one of those stocks is expected to be that of Next10 Inc (OTCMKTS:NXTN).

Market Stats

On Friday, NXTN stock ended flat at $6.50 with more than 900 shares, compared to its average volume of 379 shares. The stock has moved within a range of $6.50 – 6.50 after opening trading at $6.03.

Next10, INC. Record-Breaking November 2021 – $3.3 Million

Over the course of the previous week, the stock slid by as much as 14% amidst a selloff. In this regard, it should be noted that the company was actually in the news this past Friday after Next10 made a key announcement with regards to its subsidiary company Ultimate Logistics LLC.

The company announced that during the month of November 2020, Ultimate Logistics had a record breaking performance as it managed to generate gross revenues of as much as $3.3 million. It was the biggest revenue figure that had been recorded by Ultimate Logistics since it had been established and it goes without saying that it was a major boost for Next10 as well.

It was also announced that Ultimate Logistics was on course to clock annual gross revenues of $30 million and that reflected a year on year rise of 50%. However, investors did not seem particularly thrilled with the update and the Next10 stock continued to struggle.

Traders Corner

NXTN stock is trading below the 20-Day and 10-Day Moving averages of $6.61 and $7.01 respectively. The stock is trading in the neutral zone with RSI stands at 54.