NextPlay Technologies Inc (NASDAQ:NXTP) has made a name for operating a business ecosystem that is dedicated to consumers, gamers, travellers and digital advertising businesses.
Trading Data
On Wednesday, NXTP stock soared 15.60% to $1.56 with more than 44.26 million, compared to its average volume of 4.27 million shares. The stock has moved within a range of $1.3200 – 1.6617 after opening the trade at $1.36.
Recent News
Yesterday, the NextPlay stock managed to make a strong recovery after having been in a bit of a doldrums over the previous few days. The stock delivered gains of as much as 16% on Wednesday and while that it constitutes a strong recovery, it should be noted that it is still down by 20% over the past week. Yesterday, the stock actually rallied after the company announced that it had been successful in closing its direct offering with some institutional investors.
It should be noted that the offering had been announced previously by NextPlay. It was announced yesterday that in the direct offering, NextPlay managed to sell common shares and warrants worth as much as $30 million to the institutional investors. It goes without saying that the raising such a significant sum led to a certain degree of optimism among investors about the NextPlay stock. It is now going to be interesting to see if the stock can continue to hold on to tis momentum and clock further gains this week.
Traders Corner
NXTP stock is trading below the 20-Day and 50-Day Moving averages of $1.96 and $1.91 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.44. The stock is up 13% in the past month.
