There were many stocks that got off on the wrong foot this week and one of those was the Startech Labs Inc (OTCMKTS:LAAB) stock. There was no news about the company on Monday but the Startech stock was in the middle of a selling frenzy and soon enough the stock went into a downward spiral. At the end of the day, the stock had recorded a loss of as much as 68%.
Considering the sheer magnitude of the gains, it might be a good time for investors to take a closer look at Startech. In this regard, investors could do well to take a look at the company’s financial performance.
In the quarter that had ended on February 28, 2021, the company had suffered a net loss of $14,794 and that was actually a massive improvement when compared to the losses of $38,516,672 that Startech had suffered in the prior year period. While the considerable drop in net loss was a positive for the company it is also necessary to point out that it was possible only because of the stock based payout to the tune of as much as $38,500,000. It is going to be interesting to see if the stock can recover today or slides further.
