DSG Global Inc (OTCMKTS:DSGT) Stock Falls Despite Company Reports Strong Revenue

This past Friday, the DSG Global Inc (OTCMKTS:DSGT) stock was in the middle of a bit of a selloff and ended the day with a decline of 7%. The company, which is involved in the golf car and electric vehicle space, came into focus on Friday after it announced its financial results for the fiscal year of 2021.

Trading Data

On Friday, DSGT stock fell 6.83% to $0.0764 with 444K shares, compared to its average Friday of 393K shares. The stock moved within a range of $0.0750 – 0.0820 after opening trade at $0.0820.

DSG Global, Inc. Announces Full Year 2021 Financial Results Including Revenue Growth of 132%

It could be a good time to take a look at the company’s financial results and then make you mind up about the stock. The company’s revenues for the fourth quarter soared to $712,495 and that reflected a significant jump from the $292,154 that it had generated in the prior year period.

It worked out to a year on year rise of 144%. The gross profits for the quarter came in at $160,095 and that was again an improvement for DSG Global. In the prior year period, the gross profits had been $129,223.

Last but certainly not least, the loss suffered from operations came in at $1648643 in the fourth quarter and that also reflected a significant reduction from the $2,473,727 in loss from operations in the prior year period. It remains to be seen now if the stock can make a recovery.

Technical Data

DSGT stock is trading below the 20-Day and 50-Day Moving averages of $0.0836 and $0.0935 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1775.