XELA Stock Alert: Exela Falls on 1-for-20 Reverse Split

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XELA Stock Alert: Exela Falls on 1-for-20 Reverse Split

InvestorPlace2023-05-15

Exela Technologies (XELA) stock is sinking for a second straight day. The company carried out a 1-for-200 reverse split on Friday. Exela generated revenue of $1.077 billion last year, and its ...

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eugina
·2023-05-17
nonsense!!! keep reverse n reverse until i got zero. how could this be like this investor.
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The shares tumbled 18.3% on Friday to 2.5 cents.\nExela develops and markets process automation software that enhances “finance & accounting, human capital management … and legal management.” XELA stock has often been a meme name in the past.\nExela carried out a 1-for-200 reverse split on Friday. In the wake of the split, XELA stock was changing hands for $4.43 each in pre-market trading earlier this morning. Following the split, there are about 6.4 million shares of XELA stock “issued and outstanding,” the company noted.\n\n\n\n\n\n\nAdditional Information About Exela\nIn March, the company disclosed that it had obtained $51 million of additional credit from investment bank B. Riley (NASDAQ:RILY). Following the deal, Exela’s “existing securitization facility” reached $185 million.\nAs of the end of last year, XELA had just $9.9 million of cash and short-term investments, but it reported having $136.7 million of current debt and $146.2 million of accrued expenses.\nIn 2022, the company generated revenue of $1.077 billion, net income of -$415.6 million, and EBITDA of $13.1 million. Its operations burned $87.2 million of cash last year.\nOn May 11, it reported that its top line had dropped 2.1% year-over-year to $273.6 million in the first quarter, while its EBITDA, excluding certain items, had come in at $34.7 million in Q1. However, it generated an operating loss of $7.3 million.\nAccording to Seeking Alpha, XELA stock has a market capitalization of $6.37 billion, putting its trailing price-to-sales (P/S) ratio at a very high 6.22.\nOn the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\n\nLarry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.\n\n\nMeme Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2023/05/xela-stock-alert-exela-falls-on-1-for-20-reverse-split/.\n©2023 InvestorPlace Media, LLC\n\n\n\n\nSponsored Headlines","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9970870892,"gmtCreate":1684325485816,"gmtModify":1684325491862,"author":{"id":"3563066431731963","authorId":"3563066431731963","name":"eugina","avatar":"https://static.tigerbbs.com/ff20651010033b12fb6926344dac6453","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3563066431731963","authorIdStr":"3563066431731963"},"htmlText":"nonsense!!! keep&nbsp;reverse n reverse until i got zero. how could this be like this investor.","listText":"nonsense!!! keep&nbsp;reverse n reverse until i got zero. how could this be like this investor.","text":"nonsense!!! keep reverse n reverse until i got zero. how could this be like this investor.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970870892","repostId":2335996608,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}