Exela Technologies (NASDAQ:XELA) Stock Turns Volatile: How to Trade Now?
Shares of Exela Technologies (NASDAQ:XELA) were volatile on 16th July due to news about options trading. The company shares are now open for options trading through NYSE Arca and hence witnessed significant volumes.
The company shares are being lapped up by retail traders, demonstrating their affinity towards the stock. Earlier in the week, shares of the business process automation firm were targeted by traders for short squeeze soaring the share price. However, since then they have receded to normal trading levels.
Investors can still expect significant volatility for the company shares in the next few days despite the jump in the volumes with interest of day traders. The company is already witnessing impact of this with heavy trading as over 129 million shares have changed hands in no time. This is a huge jump vis-à-vis the firm’s daily trading volumes averaging about 53.2 million shares. The company’s stock ended lower by 1% as on 16th July afternoon and has surged by more than 146 % since the year beginning.
Market Reaction:
On Friday, XELA stock fell 1% at $3.27 with more than 154.17 million shares, compared to its average volume of 55.67 million shares. The stock has moved within a range of $ 3.2500 – 4.0500 after opening the trade at $3.77. Over the past 52-week, the stock has been trading within a range of $0.9900 – 7.8200.
