Trusted data protection software leader engaged in disaster recovery and backup operations for hybrid cloud, FalconStor Software Inc (OTCMKTS:FALC) on January 11, 2021, announced that former IBM executive Doug Balog has joined the advisory board.
Trading Data
On Tuesday, FALC stock fell 50% to $1.95 with more than 171 shares traded, compared to its average volume of 800 shares. The stock has moved within a range of $1.9500 – 1.9500 after opening trading at $1.95.
FalconStor Appoints Doug Balog, IT Infrastructure Veteran and Former IBM Executive, as Strategic Executive Advisor
Balog will be providing strategic guidance expanding commitment towards hybrid cloud community as well as focusing on managed service provider partnerships. Having spent over three and half decades at IBM as a senior executive responsible for IBM units ensuring sales and growth of the server, storage, and mainframe businesses, Balog has been involved in the company’s largest customer as well as channel partners for deploying enterprise IT infrastructure solutions.
Doug Balog expressed delight in joining FalconStor, a data protection leader, involved in deep technical expertise and also by the progress made in bringing expertise to the hybrid cloud data protection market. Balog added that IBM i customers and MSPs can benefit from the company from FalconStor’s deep technology integration.
Todd Brooks, CEO of FalconStor that the company announced its initial capabilities for cloud-enabled backup-as-a-service in 2020. FalconStor added that the complete team rallied around fundamental strategic changes, ensuring cloud integration, fundamental pricing changes as well as the development of a fresh MSP market program.
Brooks added that Doug’s addition to the team will take its efforts to the next level in hybrid cloud data protection.
Technical Data
FALC stock is below the 10-Day and 20-Day Moving averages of $2.03 and $2.11 respectively. However, the stock is below the 200-Day moving average of $3.94.
