Why did Gex Management Inc (OTCMKTS: GXXM) Soar High on Monday?

Gex Management Inc (OTCMKTS: GXXM) had recently announced a solid first quarter which ended on March 31, 2021. Its strong growth follows this in the 2020 fiscal results. There has been a solid 200% growth in revenue for Q1-2021, where the revenue is booked at $173.76K. However, the net income has dropped -9,773.94% to total at $ -402.36K for Q1-2021. All figures are comparable with the same period from the previous year.

Amping up the business operations

The CEO of the company, Sri Vanamali, said that most of the peers had fumbled during the pandemic. Still, Gex Management’s professional services and global consulting businesses haven’t just thrived but also gone a notch up.

Stock performance

Even though GXXM has remained 20.00% down over the month, there has been a 60.00% growth in the previous week, which continued on Monday. The stock surged to $0.0080 yesterday after trading in the range of $0.0050 – $0.011. GXXM is a penny stock with a 52-week high of a dollar and a 52-week low of $0.0043. At the closing hours, 112K shares trading on the market compared with its average trading volume of 2.44 million shares.

What’s the road ahead?

Over the past year, though, the stock has remained bearish by 99.20%, with the price diminishing $0.99. In the last five years, there has been a 100.00% fall in price. Nevertheless, the Dallas-based Gex Management Inc shows promising signs with solid revenue growth. Also, the company has put its money in reorganizing and restructuring key departments, viz. staffing and operations. In the last two years, there have been crucial investments in these departments, with exceptional results. The company also said that GEX’s investments had shown results with solid sales figures in the past seven quarters.