It was not a great day in the markets for investors in Auto Parts 4Less Group Inc (OTCMKTS:FLESD) as the company’s stock recorded a decline of as much as 14% for the day despite there being no news at all about the company.
Trading Data
On Wednesday, FLESD stock fell 14% to $7.75 with more than 2.2K shares, compared to its average volume of 1.4K shares. The stock moved within a range of $7.03 – 9.00 after opening trade at $9.
Recent News
In this sort of situation, there might often be confusion among investors and hence, it may be a good idea to take a look at some of the developments from the past. The last time the company was in the news was back on April 29 and at the time it emerged that it applied with the Nevada Secretary of State for a name change.
The application had been filed back on April 26. As per the Articles of Amendment filed by the company, it was looking to change its name to Auto Parts 4Less Group Inc from The 4Less Group Inc. The application had been approved by the Nevada Secretary of State and the name change had been completed on April 26.
The company had also informed FINRA with regards to this corporate action and the whole thing became effective on April 28. However, the latest decline in the stock remains a bit of a mystery.
Technical Data
FLESD stock is trading below the 20-Day and 50-Day Moving averages of $0.28 and $0.35 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.33.
