Investview Inc (OTCMKTS:INVU) Stock Falls After Q3 Earnings
Diversified technology firm Investview Inc (OTCMKTS:INVU) saw its stock go into a downward spiral yesterday as it suffered from a selloff and ended the day with a decline of as much as 7%.
Trading Data
On Monday, INVU stock lost 7.30% to $0.0171 with more than 591.92K shares, compared to volume of 464.98K shares. The stock moved within a range of $0.0166 – 0.0195 after opening trade at $0.0175.
Investview, Inc. (“INVU”) Announces Results for the Third Quarter Ended September 30, 2022
The company, which is involved in a range of industries starting from fintech to Bitcoin mining, was in the news yesterday after it announced its financial results for the three and nine month periods, both of which ended on September 30, 2022. Investors were clearly not happy with the numbers and it may be a good idea for investors to take a look at some of the highlights.
The gross revenues for the period came in at $16.1 million and that reflected a steep decline of as much as 36.9% from the gross revenues of $25.8 million in the prior year period. In the third quarter, the net revenues went down to $15 million and that worked out to a year on year decline of as much as 35.8%.
However, amidst all that, Investview actually managed to squeeze out net income of $0.5 million in the third quarter. That reflected a significant turnaround from the net loss to the tune of as much as $44.7 million in the prior year period.
Technical Data
INVU stock is trading below the 20-Day and 50-Day Moving averages of $0.0179 and $0.0187 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0425.
