In the past week, the logistics solutions company Transportation and Logistics Systems (OTCMKTS:TLSS) has seen its stock go through a pretty tough period and that that can be gauged from the price action. Over the course of the past week, the stock has gone through a strong selloff and recorded losses of as much as 7%.
Trading Data
On Wednesday, TLSS stock gained 1.63% to $0.0125 with more than 8.93 million shares, compared to its average volume of 15.79 million shares. The stock has moved within a range of $0.0115 – 0.0135 after opening trade at $0.0125.
TLSS Announces Executive and Board Changes
Yesterday, the company was actually in the news after company Transportation and Logistics Systems announced that since January 4, 2021, that Sebastian Giordano had been working as a restructuring consultant for it. In this context, it is also necessary to point out that Giordano has been working in this particular capacity through Ascentaur, his business advisory firm.
It should also be pointed out in this regard, that since February of 2020, Giordano had also served as an executive chairman at Transportation and Logistics Systems and a member of the board. The decision to have Giordano work on the restructuring is part of the range of enhancements that have been planned by the board of directors at Transportation and Logistics Systems. Despite the poor stock performance, it is going to be interesting to see who the company navigates this period.
Technical Data
TLSS stock is below the 20-Day and 50-Day Moving averages of $0.0143 and $0.0153 respectively. Moreover, the stock is below the 200-Day moving average of $0.0182.
