Beyond Commerce (OTCMKTS:BYOC) Stock Soars 25% in a Week: But Why?
Over the course of the past week, the Beyond Commerce (OTCMKTS:BYOC) stock has emerged as one of the more notable gainers and has managed to deliver gains of as much as 25% during the period.
Market Stats
On Friday, BYOC stock ended flat at $0.0005 with more than 90.01 million shares, compared to its average volume of 222.11 million shares. The stock has moved within a range of $0.0004 – 0.0005 after opening trading at $0.0005.
Recent News
There has been no news about the company in recent days but it could be a good move to take a look at the company’s third quarter financial results, which had been declared back on November 15, 2020. In the quarter that ended on September 30, 2021, Beyond Commerce managed to bring in revenues of as much as $1 million and that worked out to a year on year rise of 4%.
On the other hand, the gross profits for the period came in at $0.7 million and that represented a year on year rise of as much as 12%. In addition to that, Beyond Commerce also managed to boost its gross margins as well and that is something that should not be ignored.
The company managed to boost the gross margins for the quarter to 71.9% and that reflected a significant improvement on the 66.8% in gross margins in the prior year period. It remains to be seen if the stock can maintain its momentum next week.
Traders Corner
BYOC stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0009 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0019. The stock is down 59% in the past month.
