Life On Earth Inc (OTCMKTS:LFER) Stock Gains Momentum: Jumps 6%

One of the stocks to have moved strongly on Wednesday was that of Life On Earth Inc (OTCMKTS:LFER), which attracted the attention of investors in a big way and ended the day with gains of as much as 6%. It is likely that the software and technology company is going to come into focus today among investors today.

Market Action

On Wednesday, LFER stock moved up 5.76% to $0.0900 with 92k shares, compared to its average volume of 124K shares. The stock has moved within a range of $0.0870 – 0.0900 after opening trade at $0.0870.

Provides Shareholder Update and 2022 Outlook

Yesterday, the stock rallied after it made an announcement with regards to a shareholder update and the outlook for 2022. The updates were provided by the Chief Executive Officer of the company Mahmood Khan.

He started off by stating that despite the difficulties that had been encountered by Life On Earth in 2021 due to the coronavirus pandemic, the company managed to continue on its path and made considerable progress. He noted that in the last two quarters, Life On Earth had managed to make significant improvements to its balance sheet and had also been successful in completing the acquisition of the company CareClix.

As on November 30, 2021, the liabilities on the company’s balance sheet stood at $5,492,229 and that reflected a significant reduction from the $9,881,135 in liabilities that it had recorded as on May 31, 2021.

Traders Note

LFER stock is trading below the 20-Day and 50-Day Moving averages of $0.0885 and $0.0893. Moreover, the stock is trading is the neutral zone with RSI stands at 51.

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