Financial technology and software technology company APT Systems Inc (OTCMKTS:APTY) has not had a great time of late in the markets and the trend continued on Wednesday. The stock went down by as much as 20% yesterday and that took its losses for the past week to a staggering 32%.
While the losses made by the stock are considerable it is also necessary for investors to note that there has been no specific news about APT Systems for many weeks either. The last major news about the company emerged back in June this year. At the time the company announced that it completed the first unofficial state of the process of achieving compliance with the amendment made by the United States Securities and Exchange Commission to the Exchange Act Rule 15c2-11.
It was a significant announcement from the company and at the time, it had also brought a lot of attention to the APT Systems stock from investors. The compliance with the new regulations is expected to be a major step for the company. The regulations in question are designed to bring about more transparency and also provide more of a protection to investors. Once this process is completed, the APT Systems stock could become a more attractive proposition for investors.
Market Reaction:
On Wednesday, APTY stock slumped 21% at $0.0076 with more than 104.13 million shares, compared to its average volume of 84.96 million shares. The stock has moved within a range of $0.0073 – 0.0096 after opening the trade at $0.0088. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0256.
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