On Thursday Exela (NASDAQ: XELA) continued sinking by 3.15% to $0.3777 on a 31.3 million volume. The stock was expected to move higher but Q4 earnings didn’t meet with estimated numbers. 28 days ago Exela announced preliminary Q4 2021 and the whole 2021 years financial results. Since that day XELA started a sharp fall and its stagnation period began.
XELA becomes a “strong sell” stock
At the beginning of this year, Exela was doing good and promising to pop over the $1.00 mark. However, bad Q4 earnings spoiled the “party”. XELA will likely face further decline by grabbing another zero. Good days will surely come but Q1 2022 earnings must save the stock for a good. Recently, Exela has signed a $13 million contract to serve a new customer in the accounting segment. However, XELA didn’t start soaring as new buyers are keeping distance from the company. They still need positive earnings.