There were plenty of stocks which manage to make major upward moves on Tuesday and one of those was the 4Less Group (OTCMKTS:FLES) stock. Following a key announcement from the company, investors piled on to the 4Less stock in a big way and sent it soaring by as much as 15%.
Market Action
On Tuesday, FLES stock soared 15% at $1.55 with more than 42K shares, compared to its average volume of 29k shares. The stock has moved within a range of $1.3585 – 1.6000 after opening the trade at $1.36.
Upcoming Investor Q&A Session
The Las Vegas company announced yesterday that its management will be participating in a live Discord session with investors next week on Thursday November 18. The session in question is going to be in the form of a question and answer session with investors and it will commence at 7 p.m. Eastern Standard Time.
4Less also announced that investors could consider joining the session on that day on the specific Discord channel and attend the session. It should be noted that initiatives of this nature can often provide vital details to investors about the workings of a company and that might be one of the major reasons behind the rally in the stock on Tuesday.
In addition to that, it helps considerably with regards to transparency. The company also shared the link to the Discord channel in its press release so that investors could join easily.
Key Quote
“As our company continues to grow in the automotive space, we feel that it’s imperative to keep an open line of communication with shareholders. I am thrilled to be able to offer our investors a safe place to communicate with one another as well as to provide feedback directly to our team.” Said Christopher Davenport, founder, president, and CEO of AutoParts4Less.com “My team and I very much look forward to answering investor’s questions regarding the company and our efforts in creating the number one automotive marketplace. We wouldn’t be able to do any of this without their support.”
Traders Note
FLES stock is trading above the 20-Day and 50-Day Moving averages of $1.38 and $1.43 respectively. However, the stock is trading below the 200-Day moving average of $2.04. The stock is up 11% over the past month.
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