Yesterday, Digital Asset Monetary Network Inc (OTCMKTS:DATI) was in the news yesterday after the company provided updates with regards to its financial results for the third fiscal quarter of 2021.
Market Action
On Tuesday, DATI stock plunged 14.30% to $0.12 with 3.65K shares, compared to its average volume of 20k shares. The stock has moved within a range of $0.1200 – 0.1400 after opening trade at $0.14.
Key Details
Investors did not seem to quite like what they saw in the financial results and the Digital Asset Monetary Network stock suffered from a sharp selloff straightaway. The stock tanked by as much as 24% as a consequence of the selloff and it might be a good idea for investors to take a look at some of the highlights from the announcement in order to make their minds up about the stock.
In the quarter that ended on September 30, 2021, the company managed to continue on a path of upward growth as per the announcement.
In the nine month period ended on September 30, 2021 Digital Asset Monetary Network managed to bring in $224,302 in the form of revenues and that worked out to a significant rise from the $110,000 in the prior year period. During the same period, the losses from operations also dropped significantly by as much as 67% and stood at only $274,566. In the prior year period, the losses had come in at $830,864.
Traders Note
DATI stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.15. Moreover, the stock is trading below the 200-Day moving average of $0.18. The stock is down 37% over the past month.
 Stock Takes a Hit After Operational Updates){kind=link}