It finds that technology and mobile are trending quickest in growth. According to the 2021 study, ‘Global Pers Devices Market Report,’ QYR Research analyzed the fast growth of the Personal Emergency Response System (PERS). (OTCMKTS: WHSI) is growing in a mega-market PERS industry forecast to reach $12.3 billion globally by 2027 from $7.7 billion last year.
Moreover, the stock is trading below the 50-Day moving average of $8.84. Technical DataĬLOV stock is trading below the 20-Day and 50-Day Moving averages of $6.79 and $7.49 respectively. In light of the latest events, it might be a good idea to stay away from Clover Health for the time being. However, since then, the stock has remained a laggard as it shed around 60% from its peak in 2021. Hence, the stock had been reputed as one of the meme stocks at different times during the course of 2021.Ī short squeeze back in June had actually seen the Clover Health stock soar to a high of as much as $28.25 a share. The stock had actually come into prominence earlier on this year since it had grown in popularity among investors from the infamous Reddit community WallStreetBets.
The magnitude of the potential dilution has possibly led to the swift selloff. Over the course of the past week, the stock has tanked by as much as 23% as investors headed for the exits after the company announced last week that it was going to issue additional common stock worth as much as $300 million. The stock has moved within a range of $5.15 – 5.51 after opening trade at $5.41.
On Tuesday, CLOV stock fell 2.40% at $5.30 with more than 22.11 million shares, compared to its average volume of 20.97 million shares. The issuance of fresh stock can often prove to be a major turn off for most investors since it dilutes the stock further and hence, it is no surprise that the Clover Health Investments Corp (NASDAQ:CLOV) stock has performed so poorly in the past week.
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