There were a fair number of stocks which had managed to clock notable gains on Wednesday and one of those was the Quality Industrial Corp (OTCMKTS:QIND) stock. The company was in the news on Wednesday after it announced its financial results for the second fiscal quarter and that led to the single day gain of as much as 4% in the stock.
It may be a good idea for investors to take a look at some of the highlights from the quarters. Quality Industrial did not post any revenues during the quarter. However, the company noted that it had made significant progress nonetheless.
Trading Data
On Wednesday, QIND stock fell 4.43% to $0.2590 with more than 306K shares traded, compared to volume of 579K shares. The stock moved within a range of $0.2130 – 0.2889 after opening trading at $0.2770.
Quality Industrial Corp. Outlines Its Progress Following the Filing of Second Quarter of 2022 Disclosure
As a result of the building of solid foundation, Quality Industrial projected that in the third quarter it is going to be able to post revenues in the range between $20 million and $25 million.
ILUS International had taken up a majority stake in the company during the quarter and immediately went about making changes to the board of directors as well as in the control of Quality Industrial. ILUS made these changes so as to boost the company’s operations and also for helping close some of the deals which may end up generating revenues.
Key Quote
Quality Industrial Corp.’s Chairman and ILUS CEO, Nicolas Link, commented: “I am pleased with the progress made in a very short period since and we are confident that we will achieve our 2022 revenue forecast. With such awesome deals in negotiation, we are hard at work to add the aligned businesses which will further accelerate our growth. I am also pleased with how quickly we managed to achieve our recent name and first choice ticker change. I anticipate further landmark deals in the back half of the year as QIND continues working closely with its parent company, ILUS International.”
Technical Data
QIND stock is trading below the 20-Day and 50-Day Moving averages of $0.31 and $0.35 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.13. The company has a total market capitalization of $26.15 million. The stock is down 17% over the past month.
