Business process automation solutions providing firm Exela Technologies Inc (NASDAQ:XELA) has seen its stock have a pretty rough ride over the course of the past few days.
The trend continued on Wednesday as the Exela stock tanked by another 7% and took its losses over the course of the past week to as much as 12%. There was no news about the company yesterday but in this regard it should be noted that back on September 2 the company announced that it had been recognised as one of one of the major contenders for the Everest Group’s Finance & Accounting Outsourcing 2021 PEAK Matrix.
It was a significant announcement for the company and in this context, it is also necessary to point out that it is the fourth straight year in which Exela has been nominated as a major contender at the event. The report from the Everest Group judges the vision as well as capabilities of companies and the sort of impact it has on the market.
The decline in the stock price has been consistent over the past days but it is going to be interesting to see if the Exela stock can actually make a recovery any time soon.
