Ashford’s stock was fluctuating at $48.70 from June 21 till July 2. Then it sharply fell till $24.05 and started to fluctuate at that level and reached $19.36 for today. The day’s range of the stock is $17.11 – $19.79. The average volume of the company is 3,947,551 shares and the total volume consist of 1,731,092 shares.
On July 16, Ashford Hospitality Trust made an announcement about the finishing of the 1-for-10 reverse stock split. The split of the stock will not influence the investors’ ownership, it will only affect the price of the stock. The company decided to do it because of the low level of the stock’s price which is the result of the COVID-19 pandemic.
The second reason why the stock is declining at a fast pace might be the appearance of the new types of the COVID-19 which is resulting in more incidence. Some investor implies that it will be difficult to return to the pre-pandemic time if the number of sick people will increase.
After a long week of holidays in 2020, Helen realized she can do better in reporting Finance and Business news for Own Snap. Right now she is our weekend reporter and author. Sometimes she is busy with her projects that are related to her Master’s Degree in Finance.