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      NextPlay Technologies Inc. (NXTP) stock Falls Under Corrections After Hours - Stocks Telegraph

      By Gule Rukhsar

      Published on

      January 12, 2022

      6:26 AM UTC

      NextPlay Technologies Inc. (NXTP) stock Falls Under Corrections After Hours - Stocks Telegraph

      On January 11, NextPlay Technologies Inc. (NXTP) stock gained a huge 21.92% during regular trading. Consequently, the stock fell under corrections in the after-hours on Tuesday.

      In the regular session, NXTP stock varied between a high of $0.7848 and a low of $0.6350 at 1.35 million shares. The stock closed the session at $0.7838 with an increase of $0.1409 or 21.92%. Given the huge increase, the stock lost 4.13% in the after-hours due to corrections. Hence, NXTP reached down to $7514 in the after-hours session.

      NextPlay Technologies Inc. is a digital advertising services provider with a market capitalization of $73.49 million. Currently, the company has 114.32 million shares outstanding in the market.

      NXTP Stock Movement

      On Tuesday, NXTP stock added a good value to its per-share price. The stock saw a mild volume of 1.35 million compared to its 65-day average of 6.29 million. While there was no news from the company, it still increased by a good 21.92% on Tuesday. Following the gains, the stock was bound to fall under corrections soon. Hence, NXTP succumbed to corrections in the following session to shed its gain.

      Looking at the bigger picture, the stock has subtracted 11.93% in the past five days and 16,62% last month. Moreover, the stock’s year-to-date loss stands at 8.37% while it lost 69.26% last year.

      Additions to the Board of Directors

      On December 15, the company announced the appointment of two new independent directors to its board. With the addition of Edward “Terry” Gardner, Jr. and Farooq Moosa, the board now has 10 members.

      Mr. Gardner has vast experience of more than 25 years in capital markets, equity research, and investment management. He is a portfolio strategist and an investment manager. Currently, Mr. Gardner is a partner as C.J. Lawrence where he serves as a portfolio strategist, investment manager, and chairman of its Investment Committee.

      Furthermore, Mr. Moosa also brings extensive experience of over 20 years in the field. Currently, he is the president and CFO of Avenir Senior Living. Mr. Moosa has served at various management positions with Echelon Wealth Management, Scotiabank, BMO Capital Markets, and others.

      NXTP’s Q2 FY2022 Highlights

      In the fiscal second quarter of 2022, NXTP reported revenue of $2.6 million (primarily due to acquisitions), while there was no revenue in the year-ago quarter.

      Moreover, the net loss in the Q2 FY2022 was $9.7 million ($0.11/share) against $411,000 ($5.06/share) a year ago.

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