PhoneX (OTCMKTS:PXHI) Shares Down 7.4% – Here’s What Happened

PhoneX Holdings, Inc. (OTCMKTS:PXHI)’s share price dropped 7.4% during mid-day trading on Tuesday . The stock traded as low as $1.25 and last traded at $1.25. Approximately 700 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 1,033 shares. The stock had previously closed at $1.35.

PhoneX Stock Performance

The stock’s 50-day moving average is $1.57 and its 200 day moving average is $1.85. The stock has a market capitalization of $44.42 million, a PE ratio of 1.68 and a beta of 0.94.

PhoneX Company Profile

PhoneX Holdings, Inc operates as a market maker of used smartphones. The company acquires products from individual consumers through its uSell.com Website, as well as from various carriers, big box retailers, and manufacturers through its subsidiary, We Sell Cellular. It sells its devices to professional buyers, such as brick and mortar retailers, online retailers, large and small wholesalers, small repair shops, large refurbishing providers, and insurance companies, as well as directly to consumers through third party e-commerce platforms.