Capstone Companies Inc (OTCMKTS:CAPC), which is involved in designing, manufacturing and marketing consumer products for simplifying daily living, saw its stock take a beat on Friday and decline by as much as 15% as a consequence.
Trading Data
On Friday, CAPC stock fell 15.25% to $0.25 with more than 42.49K shares traded, compared to its average Friday of 95.2K shares. The stock moved within a range of $0.2400 – 0.2950 after opening trading at $0.29
Capstone Companies Reports 2021 Year-End Performance
The company came into focus on Friday after it announced its financial results for the full year 2021. Investors did not seem particularly happy with the financial results and that was evident in the price action in the Capstone stock. The Chief Financial Officer of the company Gerry McClinton spoke about the company’s performance as well with regards to the fiscal results.
He noted that in the previous two years, the product development people at the company had gone through a tough time due to the coronavirus pandemic. They have been working on the company’s Smart Mirror portfolio of products. He went on to note that inventory had become available again and hence, the management at Capstone was looking to get into sound financial management and strategic development of products.
At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and watch the price action.
Key Quote
Gerry McClinton, Capstone’s Chief Financial Officer, commented, “The Product Development team fought through 2 years of pandemic related delays in order to finalize the Smart Mirror portfolio. With inventory now available, Management has refocused on Strategic Development and Financial Management for future growth.”
Technical Data
CAPC stock is trading below the 20-Day and 50-Day Moving averages of $0.29 and $0.36 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.10.
