The past few days have been quite difficult for investors in IFAN Financial Inc (OTCMKTS:IFAN) and Monday was no exception in that regard, as the stock tanked by another 11%. The decline in the stock yesterday took the losses made in the past week to as much as 23%.
Trading Data
On Monday, IFAN stock gained 3.85% to $0.0027 with 38.56 million shares, compared to its average volume of 19.43 million shares. The stock has moved within a range of $0.0026 – 0.0034 after opening trade at $0.0023.
IFAN Financial Inc. (IFAN) Acquires Company with Approximately $4M in Revenue and 385k sf Property
Can the IFAN stock actually bounce back or is this slide going to continue? Yesterday, the company had actually come into focus after it announced that it had acquired a new company that not only generated to the tune of $4 million every year and also holds properties valued at $385000.
It goes without saying that the acquisition could prove to be an important one for the company but the development could not swing the sentiments of investors. Larry Williams, who is the Chief Executive Officer of IFAN Financial, noted the addition of more assets to the company’s balance sheet is going to more stability for the shareholders.
While the announcement was an important one, it is now going to be interesting to see if there is any reversal in fortunes for the IFAN stock through the course of the week. It may be a good time to keep track of the stock.
Technical Data
IFAN stock is trading below the 20-Day and 50-Day Moving averages of $0.0043 and $0.0079 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0161.
