SeaChange International (NASDAQ:SEAC) Stock Moves in a Range: What to do Now?
If a stock moves in a range, it does not mean that it is not going to break out strongly eventually and hence, it may be a good idea to sometimes track such stocks.
One stock that has been trading within a range for some time now is that of SeaChange International Inc (NASDAQ:SEAC) stock. There has been no news about the company this week but back on July 7 the company had made a major announcement with regards to the launch of a new offering. The product in question is an OTT (over the top) turnkey platform named StreamVid that is meant for helping companies with their video streaming businesses.
In recent years, the video streaming industry has grown at a rapid pace and a solution of this nature could prove to be a solid source of revenues for SeaChange International in the coming years. The platform is going to help streaming platform operators and content creators to connect with their subscribers directly. In addition to that, it is important for investors to keep in mind that StreamVid is a completely managed SaaS or software as a service platform. It is encrypted from end to end as well.
Market Reaction:
On Monday, SEAC stock fell 3.36% at $1.15 with more than 496k shares, compared to its average volume of 3.46 million shares. The stock had moved within a range of $1.1400 – 1.1754 after opening the trade at $1.16. Over the past 52-week, the stock has been trading within a range of $0.6900 – 2.1500.
