GS Chain (LON:GSC) Trading Down 17.5% – Should You Sell?

Shares of GS Chain plc (LON:GSC) were down 17.5% during mid-day trading on Wednesday . The company traded as low as GBX 0.33 and last traded at GBX 0.33. Approximately 3,700,000 shares changed hands during mid-day trading, an increase of 340% from the average daily volume of 840,601 shares. The stock had previously closed at GBX 0.40.

GS Chain Stock Down 17.5%

The business has a 50 day moving average of GBX 0.46 and a 200 day moving average of GBX 0.38. The company has a market capitalization of £1.32 million and a P/E ratio of -6.60.

GS Chain (LON:GSC) last released its quarterly earnings results on Friday, October 31st. The company reported GBX (0.05) earnings per share (EPS) for the quarter.

Insider Activity at GS Chain

In related news, insider Leon Filipovic sold 60,000,000 shares of GS Chain stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of GBX 1, for a total transaction of £600,000. Also, insider Sébastien Dominique André Guerin sold 59,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of GBX 1, for a total value of £595,000. Insiders own 28.98% of the company’s stock.

About GS Chain

GS Chain Plc (LSE: GSC) seeks to identify an opportunity within the technology sector, conduct the necessary due diligence and subsequently complete an acquisition that would benefit its shareholders.

While the Board of Directors’ experience spans across a wide range of business sectors, the board will focus its energy in the technology space; specifically targeting a company that leverages state of the art technology in automotive, fintech, real estate, banking, finance, telecommunications, or blockchain industries.