Quotient (NASDAQ:QTNT) Stock Fell 13%: Here is Why
While it is important for investors to look into the gainers in a particular week, it is also vital to have an idea about the fallers and the Quotient Ltd (NASDAQ:QTNT) stock falls in the latter category.
The stock was in the middle of a bit of a downward spiral this past week and ended up with losses of as much as 13% for the week. One of the key reasons behind the fall in the share price could be related to the announcement from the company with regards to the departure of its Chief Financial Officer Peter Buhler.
It was revealed that Buhler was going to resign from his position at Quotient and then take up a position in another company. However, there is still a long way to go before that happens.
The resignation is going to be handed in on December 31 this year unless Quotient decides to proceed otherwise. In addition to that, the company also pointed out that the process of searching for a new Chief Financial Officer is already underway and an appointment is going to be made before December 21, 2021. In the meantime, it is going to be interesting to see if the stock can mount a recovery on Monday.
Market Reaction:
On Friday, QTNT stock went down 0.81% at $3.66 with more than 254K shares, compared to its average volume of 513k shares. The stock has moved within a range of $3.6000 – 3.8200 after opening the trade at $3.74. Over the past 52-week, the stock has been trading within a range of $3.4100 – 8.7700.
