Nexteligent Holdings Inc (OTCMKTS:NXGT) Stock In Focus: Company Appoints Independent Director

One of the companies that may be worth tracking this morning is Nexteligent Holdings Inc (OTCMKTS:NXGT) in light of the announcement that was made by the company yesterday. The company announced yesterday that it had appointed an independent director to its board of directors in the form of Thomas Papini.

Trading Data

On Wednesday, NXGT stock ended flat at $0.0200 with more than 1K shares, compared to its average volume of 23.54K shares. The stock moved within a range of $0.0200 – 0.0200 after opening trade at $0.0200.

Nexteligent Appoints Independent Director

In this regard, it ought to be noted that the sixth seat on the company’s board had fallen vacant and Nexteligent Holdings decided to fill it with the latest appointment. The latest appointment took the number of independent directors on the company’s board from three to four. In this situation, it could be a good move for investors to consider taking a closer look at Papini’s credentials as an independent director.

Papini is a hugely experienced finance executive who has worked for both well-known corporations as well as start-ups for more than 35 years. He has been involved with the Make-A-Wish Foundation, National Health Promotion Associates and the American Broadcasting Company among others throughout the course of his career.

He is going to be involved in the growth initiatives that are going to be undertaken by Nexteligent Holdings in the coming months. It could be a good time to keep an eye on the stock.

Technical Data

NXGT stock is trading above the 20-Day and 50-Day Moving averages of $0.0187 and $0.0188 respectively. However, the stock is trading below the 200-Day moving average of $0.0414.