Investors seemed to have been pretty bullish about the GlobeX Data Ltd (OTCMKTS:SWISF) stock yesterday and that was apparent in the price action in its stock as well. The company, which is involved in the secure communications and data management space, was in focus yesterday after it made an announcement with regards to its plans for the coming year.
Trading Data
On Monday, SWISF stock ended higher by 3.60% to $0.3860 with more than 93k shares, compared to its average volume of 149k shares. The stock has moved within a range of $0.3700 – 0.4002 after opening trade at $0.3749.
Key Details
The company is looking to have another year that could lead to bigger transformation and it seems that its plans were well received by investors. The stock rallied yesterday and went up by as much as 4% as a consequence.
In the letter addressed to the shareholders, the company thanked the shareholders and provided some of the reasons for being optimistic about GlobeX. First and foremost it was pointed out that throughout the course of 2021, the company had managed to bring in as much as C$13 million in the form of fresh capital through a range private placements.
At the end of 2021, it had a cash balance of as much as C$8.6 million. This was one of the biggest highlights from the letter and may have contributed to the rally that was seen yesterday.
Technical Data
SWISF stock is trading above the 20-Day and 50-Day Moving averages of $0.3354 and $0.3560 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.3026. The stock is up 10% in the past month.
