It is often noticed that investors are increasingly prone to look into stocks that may have gained strong momentum and by that token, it could be a good move to take an interest in the Exela Technologies Inc (NASDAQ:XELA) stock.
Trading Data
On Thursday, XELA stock fell 2.32% to $0.2149 with more than 27.21 million shares, compared to its average volume of 33.63 million shares. The stock moved within a range of $0.2101 – 0.2300 after opening trading at $0.22.
Quick Recap
Yesterday the company came into focus after it announced that it had appointed a new Chief Technology Officer in the form of SriramRamanathan. The appointment is a vital one for any technology company worth it’s salt and hence, there might be a lot of interest among investors as well as analysts about how the whole thing pans out in the near to medium term.
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Ramanathan is going to be responsible for the product direction and strategy with regard to the different solutions that Exela has to offer. In addition to that, he will be working closely with the company’s worldwide leadership team in order to build the technologies that Exela seeks to offer. At this point in time, it is going to be interesting to see if the momentum gained by the stock yesterday translates into any gains or not. Investors could do well to keep an eye on Exela this morning.
Key Quote
“Technology adaptation and enhancement is the backbone of Exela. We are always looking for new ways to enable and optimize solutions for customers and our platform. Sri is a welcome addition to our family and we look forward to his thought leadership in growing Exela,” said Par Chadha, Executive Chairman of Exela.
Technical Data
XELA 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 $1.12.
