AmeraMex International Inc (OTCMKTS:AMMX) is best known for supplying heavy equipment to logistics companies and other industries and yesterday, the company saw its stock perform poorly.
Market Action
On Tuesday, AMMX stock fell 6.67% at $0.3920 with more than 119k shares, compared to its average volume of 12k shares. The stock has moved within a range of $0.3365 – 0.4124 after opening the trade at $0.4061.
Equipment Orders Totaling Approximately $ 1.0 Million
The AmeraMex stock tanked by as much as 7% yesterday despite the fact that the company made a major announcement yesterday with regards to a new order. The company announced on Tuesday that it had received a purchase order valued at as much as $1005000. It goes without saying that it was a significant piece of news for AmeraMex but it did not seem to impress investors and the stock tanked.
In this context, it is perhaps important to point out that the latest purchase order takes the total sales made by the company to as much as $25 million. In addition to that, investors also need to remember that the company has managed to grow at a remarkable rate in the past few years.
Back in 2017, it had revenues of only $8.7 million but in 2021, the company has projected that its revenues are going to be around $23 million. That represents a CAGR or compounded average growth rate of a handsome 25.5%. Hence, it remains to be seen if the stock does rebound in the coming days.
Traders Note
AMMX stock is trading below the 200-Day and 20-Day Moving averages of $0.56 and $0.43 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.43. The stock is down 20% so far this year.
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