Business and financial consulting services providing holding company ATIF Holdings Limited (NASDAQ:ATIF) primarily operates in the North American and Asian markets. Yesterday, the stock was in focus among investors after a key announcement from the company and ended up with gains of as much as 3%.
Trading Data
On Monday, ATIF stock moved up 3.81% to $3.54 with more than 4.5K shares, compared to its average volume of 13.4K shares. The stock moved within a range of $3.3900 – 3.7164 after opening trade at $3.39.
ATIF Holdings Chairman and CEO Jun Liu Purchases 25,899 Shares of ATIF on the Open Market
The company announced yesterday that Jun Liu, who is the Chief Executive Officer, President and Chairman of the Board of Directors at ATIF Holdings, picked up as many as 25899 shares. The shares were actually picked up in the open market and the accumulation had gone on from January 18 through to April 5 this year.
In this regard, it is perhaps also necessary to point out that since December last year, Liu has picked up as many as 50300 shares in the company in total. The purchase of shares in the open market from the top executive of a company is almost always seen as a source of optimism by investors. It indicates that the management is confident about the future of the company and its growth prospects. Hence, it was perhaps no surprise that the ATIF stock ended up clocking gains on Monday.
Key Quote
Jun Liu, President, Chairman of the Board, and CEO of ATIF commented, “These open market share purchases of ATIF stock reflect my absolute confidence in what we are building at ATIF, from our expert IPO Advisory Services, the ATIF-1 Hedge Fund, our Digital Asset Platform Service division, and future Equity Crowdfunding Platform, across both China and the United States. I believe that the current market price of our stock represents a highly attractive valuation for investors, making now an opportune time to invest in ATIF. As the largest stockholder of ATIF, my interests continue to be fully aligned with my fellow stockholders. I expect to continue investing in the open market as long as our stock remains at these price levels in accordance with applicable securities laws. I look forward to continuing to execute our plan to drive value for shareholders.”
Technical Data
ATIF stock is below the 20-Day and 50-Day Moving averages of $3.64 and $3.78 respectively. Moreover, the stock is trading below the 200-Day moving average of $3.82.
