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Fitell Corp experienced a massive turn down over the past five days, losing 6.91 USD, or 71.98%, to close at 2.69 USD on February 7 at 8:00 PM GMT-5. The stock’s steep decline came after the company announced a $10 million registered direct offering.
During the latest trading session, Fitell Corp opened at 5.42 USD. However, the stock struggled to maintain momentum, reaching a session high of 5.63 USD before encountering strong selling pressure. The decline accelerated as the stock hit an intraday low of 2.50 USD, marking a sharp drop in valuation.
The after-hours trading reflected continued weakness, with the stock dipping 0.0099 USD, or 0.37%, to 2.68 USD. Fitell Corp’s market capitalization stands at 5.41Cr, a significant reduction in value following the sell-off. The key resistance level at 5.63 USD will be crucial for any further recovery, while 2.50 USD serves as a recent low where some buyers stepped in.
Disclaimer: This article is for informational purposes only and does not constitute any financial advice.