DIRTT Environmental Solutions Ltd (NASDAQ:DRTT) Stock Extends Fall: Falls 10% In a Week
It was a pretty tough time for investors in DIRTT Environmental Solutions Ltd (NASDAQ:DRTT) as the company’s stock continued to slide. The selloff in the stock continued this past Friday as the stock ended the day with a decline of 6% and that took the decline for the whole of last week to as much as 10%.
Market Stats
On Friday, DRTT stock fell 5.74% to $1.97 with more than 50.93K, compared to its average volume of 74.68K shares. The stock has moved within a range of $1.9700 – 2.1900 after opening trading at $2.19.
DIRTT Announces Adoption of Shareholder Rights Plan
In light of such a decline, it could be a good idea for investors to figure out if it could be an opportunity to get into the stock on the cheap. The interior construction company was actually in the news back on December 7 last week when it made an announcement with regards to the fact that a shareholders rights plan had been approved by its board of directors.
It was a significant announcement from the company and the plan had been inducted into the Computershare Trust Company of Canada, as Rights Agent on the same day. The plan was put into place by the company so that all the shareholders were treated equally and fairly by the company. It was a major move from the company and it might be interesting to see if such a move sparks interest among investors or not.
Traders Corner
DRTT stock is trading below the 20-Day and 200-Day Moving averages of $2.36 and $3.37 respectively. The stock is trading in the neutral zone with RSI stands at 24.
