The financial technology sector has grown at a remarkable pace in the past decade and hence, it is not surprising that niche companies have come up in the sector as well. One such niche financial technology company at this point is LGBTQ Loyalty Holdings Inc (OTCMKTS:LFAP), which is a financial methodology and data firm but driven by inclusion and diversity.
On Friday, LFAP stock moved down 13.64% at $0.0038 with more than 1.66 million shares, compared to its average volume of 5.78 million shares. The stock has moved within a range of $0.0036 – 0.0044 after opening trading at $0.0043.
However, in recent times, the stock has had a tough time and on Friday it declined by another 14%. The decline recorded by the stock yesterday took its losses for the past week to as much as 22% for the past week.
There has been no news recently about LGBTQ Loyalty but back on November 16 the company had announced that the LGBTQ100 ESG Index had performed strongly in the first two years since its inception.
The company noted that since the index had been launched back on October 30, 2019, it had managed to deliver a better performance than the S&P500 by as much as 6.01%. That is a significant aspect of the performance and something that investors ought to keep in mind. It remains to be seen if the LGBTQ Loyalty stock can manage to make a recovery any time soon.
LFAP stock is trading below the 20-Day and 50-Day Moving averages of $0.0050 and $0.0070 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0138. The stock is down 42% in the past month.