If you are currently on the lookout for stocks which have performed strongly in the past week then it might be a good move to look into the Galaxy Next Generation Inc (OTCMKTS:GAXYD) stock.
Market Reaction
On Tuesday, GAXYD stock moved up 4.89% to $0.6110 with more than 66k shares, compared to its average volume of 5.6 million shares. The stock moved within a range of $0.5900 – 0.6400 after opening trade at $0.59.
Galaxy Next Generation Awarded Software Bid from Killeen Independent School District of Texas
The stock came into focus among investors yesterday and ended up with gains of as much as 5% for the day. In addition to that, the rally in the stock on Tuesday took the gains clocked in the past week to as much as 62%. The company is involved in providing interactive learning tech solutions and yesterday, Galaxy Next Generation announced that it had been awarded a new software bid. The contract in question had been awarded by the Killeen Independent School District of Texas.
The software contract had been awarded to Galaxy Next Generation for its G2 Control and G2 Communicator software that are going to be used on an as-needed basis. It went into effect back on February 2 this year and it is going to stay in place up until October 10, 2022. The awarding of a new contract can always come as a big boost for any company and hence, the reaction of market participants was perhaps not surprising.
Key Quote
Gary LeCroy, Galaxy’s Chief Executive Officer, commented, “This award demonstrates our continued success in penetrating the K-12 education market in Texas. Killeen ISD is recognized as a high standard school district with its transparency, careful and efficient use of budgetary money and continuous improvement process. We look forward to working with Killeen ISD in helping them maintain their superior status.”
Traders Review
GAXYD stock is trading below the 20-Day and 50-Day Moving averages of $0.84 and $1.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.84.
