Stocks that may have performed poorly for a prolonged period may often offer an opportunity for investors if they bounce back and this brings us to the intriguing case of the Bird Global Inc (NYSE:BRDS) stock.
Trading Data
On Tuesday, BRDS stock gained 1.30% to $0.80 with more than 2.53 million shares, compared to its average volume of 1.72 million shares. The stock moved within a range of $0.6800 – 0.8200 after opening trade at $0.80.
Key Analysis
The company, which is known for providing electric transportation for short rides, has seen its stock tank by as much as 86% over the course of the past year. In this situation, it may be important for investors to figure out if the stock can make a recovery and thereby bring about some profits. There have been some developments that investors could look into at this point.
Earlier on in 2022, Bird Global announced that it was going to boost the size of its fleet of shared e-scooters in New York City. However, that was not all. The company also announced that it was also exploring the possibility of boosting the size of its e-mobility services in the city of Washington D.C. by as much as 20%.
On the other hand, the company also made the Bird Bike, its e-bike, available throughout the United Kingdom. It’s clear to see that Bird Global is making some serious moves and it may be a good time to keep an eye on it.
Technical Data
BRDS stock is below the 20-Day and 50-Day Moving averages of $1.20 and $1.90 respectively. Moreover, the stock is trading below the 200-Day moving average of $5.87.
