This morning it could be a good idea for investors to keep an eye on Transportation and Logistics Systems Inc (OTCMKTS:TLSS), the logistics services company. The company came into focus yesterday after its Chief Executive Officer and Chairman Sebastian Giordano provided an update for the benefit of stakeholders. It may be a good move to take a look at some of the highlights.
Trading Data
On Monday, TLSS stock fell 0.84%to $0.0052 with more than 9.60 million shares traded, compared to volume of 5.87 million shares. The stock moved within a range of $0.0049 – 0.0054 after opening trading at $0.0051
The update was mainly an update of the progress made by Transportation and Logistics Systems in its strategic plans for 2022. It was noted that the company had started the process related to the filing of its Form 10Q for the third fiscal quarter results for the period ended on September 30, 2022.
On the other hand, the CEO also noted that the company was going to launch its strategy to bring about growth through acquisitions in the third fiscal quarter. As it happens, Transportation and Logistics Systems acquired JFK Cartage back in August and Freight Connections in September. He went on to note that the annualized run rate revenues of the business it has acquired are going to be more than $16 million. It was added that the pipeline of acquisition targets remains strong.
Technical Data
TLSS stock is trading below the 20-Day and 50-Day Moving averages of $0.0055 and $0.0061 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0082.
