Exela Technologies (NASDAQ:XELA) Stock Continues to Trade in a Range
The last time Exela Technologies (NASDAQ:XELA) was in the news was last Wednesday on November 10, 2021 and hence, it was perhaps no surprise that the stock was trading within a range yesterday.
Market Stats
On Tuesday, XELA stock gained 1.28% at $1.58 with more than 12.93 million shares, compared to its average volume of 20.97 million shares. The stock has moved within a range of $1.4801 – 1.5900 after opening trading at $1.56.
Latest News
That being said, stocks trading in a range could break out into a rally as well and hence, it might be a good move to take a closer look into Exela at this point in time. Last week the company had come into focus after it announced that it had extended the early tender time to 11:59 pm New York time on November 24, 2021 from 5 pm New York time on November 9, 2021.
The tender in question is with regards to an exchange offer that had been announced previously by some of the subsidiaries of Exela for the Old Term Loans and Old Notes as had been pointed out in the Offering Memorandum.
It was a significant announcement from the company considering the fact that those who are going to be applying for the tenders are going to have substantially more time to fill in. It now remains to be seen if the Exela stock gets into focus among investors in the days leading up to the closing of the tender offer next week.
Traders Corner
XELA stock is trading below the 20-Day and 50-Day Moving averages of $1.74 and $1.86 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.19. The stock is down 7% in the past month.
