Sysorex Inc. (OTCMKTS:SYSX) Stock Soars After Shareholders Update
Sysorex Inc. (OTCMKTS:SYSX) was up 38% after the data center operator/owner focused on blockchain tech applications and Ethereum mining services shared a letter from two of its biggest shareholders, District 2 Capital Fund LP and Bigger Capital Fund LP that was filed with the SEC in form 13D.
Market Stats
On Tuesday, SYSX stock soared 38% to $0.0759 with more than 84.47 million shares, compared to its average volume of 18 million shares. The stock moved within a range of $0.0412 – 0.0759 after opening trading at $0.0588.
Key Details
The shareholders and their affiliates (the Funds) are among the biggest owners of the company controlling around 9.6% of Sysorex’s outstanding common shares. Michael Bigger, a reputable value investor who has successfully invested in different firms for more than 30 years, heads the two research-intensive investment companies.
The Funds feel Sysorex has a lot of untapped potentials. They have no intentions to push for or implement any operations or managerial changes; rather, the Funds aim to collaborate with Sysorex on strategic matters to position the Business to discover this latent potential successfully. The company expects to close a transaction with Ostendo Technologies Inc. on May 24, 2022. So SYSX is worth watching.
Traders Corner
SYSX stock is trading above the 20-Day and 50-Day Moving averages of $0.0271 and $0.0318 respectively. However, the stock is trading below the 200-Day moving average of $0.6427.
