The slide in the Graystone Company Inc (OTCMKTS:GYST) stock continued on Monday as it started the week on a sour note. The Graystone stock ended the day with a decline of 10% and in the process, took its decline for the past week to as much as 21%.
Market Action:
On Monday, GYST stock fell 10.26% at $0.0280 with more than 1.17 million shares, compared to its average volume of 962.59K shares. The stock has moved within a range of $0.0268 – 0.0357 after opening the trade at $0.0336.
Profitability And Increased Revenue For October 2021
Yesterday, the company was in the news after it released its unaudited financial results for one month that had ended on October 31, 2021. The company noted that its unaudited revenues saw a jump of as much as $58,000 in the month. Graystone pointed out that the revenues were made up of cryptocurrency equipment sales, gains realised from digital asset sales and cryptocurrency mining.
In this regard, it is also necessary to point out that it surpassed the revenues generate in September 2021 by as much as 1568%. On the other hand, the Bitcoin revenues generated by Graystone soared by as much as 343% and on the other hand, the value of the Bitcoin holdings appreciated by as much as 38% on United States dollar terms.
Despite the strong preliminary results, investors did not seem to be particularly enthused and that was possibly the reason behind the continued slide.
Traders Note
GYST stock is trading below the 50-Day and 20-Day Moving averages of $0.0281 and $0.0301 respectively. However, the stock is trading above the 200-Day moving average of $0.0227. The stock is up 43% in the past 6-month.
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