When stocks go into a prolonged downward spiral, then it might often be difficult to claw back and that seems to be the situation with the Eros STX Global Corp (NYSE:ESGC) stock at this point in time.
The company has seen its stock tank by as much as 51% over the course of the past month and perhaps it might be the right time for investors to take a look into the situation. Two of the biggest reasons behind the slump in the stock in recent days were a press release from the company and a filing with the United States Securities and Exchange Commission earlier on this month.
In those documents, the company revealed that it was working on a process by way of which it could restructure the debts in its books. However, in addition to that, Eros STX Global also noted that there could be a delay in announcing its financial results for the fiscal quarter that ended on March 31, 2021.
The dual news seemed to have spooked investors considerable and that possibly led to the selloff in the Eros STX stock. Investors could consider keeping an eye on any news about the company in the coming days.