SCWorx Corp (NASDAQ:WORX) Stock Pulls Back On Profit Booking: What to do Now?
SCWorx Corp (NASDAQ:WORX) has made its name a very niche industry. It is involved in providing data management solutions to the healthcare sector and in recent days, its stock has been quite volatile. The stock was in the middle of a strong selloff yesterday and tanked by as much as 15%.
While the decline in the stock price was noticeable, it is also necessary for investors to note that the SCWorx Corp stock is still up by 32% over the course of the past month. That being said, it is also important for investors to keep in mind that there was no news about the company yesterday.
The last important news about the company emerged back on June 1, 2021, when SCWorx Corp announced that it had become compliant again with the regulations of the Nasdaq Capital Market. As a matter of fact, the fact that the company had managed to regain compliance was notified in a letter from the exchange dated May 25, 2021. However, that was not all.
Another letter from the exchange on May 27, 2021 noted that SCWorx Corp also managed to fulfil the requirements with regards to the annual meeting requirements. The requirement was met by the company after it hosted a meeting on May 24, 2021.
Market Reaction:
On Wednesday, WORX stock plunged 15.32% at $2.10 with more than 2.93 million shares, compared to its average volume of 3.77 million shares. The stock has moved within a range of $2.0671 – 2.5900 after opening the trade at $2.41. Over the past 52-week, the stock has been trading within a range of $1.0000 – 5.7550.
