It is often seen that after a stock manages to clock significant gains, it suffers from a decline since some investors might want to book some of their profits. That is what happened with the Direct Communication Solutions Inc (OTCMKTS:DCSX) stock on Tuesday as it ended the day with a decline of 6% after some investors decided to book profits.
Trading Data
On Tuesday, DCSX stock fell 6.10% to $0.41 with more than 450 shares, compared to its average volume of 7.4k shares. The stock has moved within a range of $0.4100 – 0.4100 after opening trade at $0.41.
DCS Announces Appointment of New Director
That being said, it is necessary for investor to keep in mind that the stock is still up by as much as 45% over the course of the past week.
The company, which is a leader in providing informational technology services to the fast growing IoT or Internet of Things space, was actually in the news yesterday. Direct Communication Solutions announced that it had appointed Konstantin Lichtenwald as a member of its board.
The appointment of a new member of the board is almost always a significant development and it is no different in this case. The company also noted that Lichtenwald is going to help Direct Communication with regards to strategic transactions and also corporate finance, given his experience in those spaces. Investors will probably be watching for a rebound in the stock this morning.
Key Quote
“I am delighted to welcome Konstantin to the Board of Directors,” said Chris Bursey, CEO and Chairman of the Board. “With his experience in corporate finance and strategic transactions he will be a significant addition to the Board.”
Technical Data
DCSX stock is trading above the 20-Day and 50-Day Moving averages of $0.3252 and $0.3452 respectively. However, the stock is trading below the 200-Day moving average of $0.0814.
