The decentralized finance space has garnered a lot of interest from investors in recent times. However, the decentralized finance holding company North America Frac Sand Inc (OTCMKTS:NAFS) did not have a particularly great time in the markets last Friday.
Trading Data
On Friday, NAFS stock moved down 17.02% to $0.0039with 3.47 million shares, compared to volume of 1.07 million shares. The stock moved within a range of $0.0035 – 0.0042 after opening trade at $0.0040.
Nafs Appoints New CEO Tasked With The Reorganization Of The Company
The stock suffered from a steep selloff and ended the day with a decline of as much as 17%. In this situation, it could be a good idea for investors to figure out if the stock could actually make a quick recovery or not. As it happens, the company was in the news last Thursday and it could be a good move to take a look into it.
North America Frac Sand announced a significant reorganization of its leadership and management last Thursday. It was announced that FrankjoseYglesius had resigned from his position as the Chief Executive Officer and was going to move into the role of the Chief Technology Officer.
The new CEO of the company is going to be Kurt Pfluger. Pfluger is a highly experienced executive and his experience spans that of a CEO as well as a founder in a career spanning more than two decades. In the past eight years, he has worked in blockchain, financial technology, decentralized finance, and web 3.0.
Key Quote
Mr. Frank Yglesias, of NAFS commented, “I am delighted to welcome Mr. Pfluger and I can think of no one better to lead NAFS; Kurts broad-based experience in business management and his extensive leadership experience across both strategic and operational functions in the technology industry, will lead NAFS into a new era.” Additionally, Mr. Pfluger stated, “Im honored and grateful to lead NAFS into the exciting and vast opportunities that are available in the Web 3.0 sector, my immediate goals are to bring shareholder value and grow the company to the vision and potential that we have.
Technical Data
NAFS stock is trading above the 20-Day and 50-Day Moving averages of $0.0040 and $0.0032 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0046. The company has a total market capitalization of $273K.
