Once Up Over 200% in July, Skyx Platforms Stock Plunges to End the Month
As of yesterday, shares of Skyx Platforms (NASDAQ: SKYX) were up roughly 240% for July. But today, investors are cashing in some of their windfall gains. There's no news for Skyx Platforms today, but the stock is down 22% as of 1:20 p.m. ET nevertheless.
Have you ever tried to change a ceiling fan? Disconnecting wires can be a challenge, but it's a process Skyx Platforms wishes to simplify. Its SkyPlug will remain permanently mounted in the ceiling. And equipped ceiling fans and light fixtures can easily attach or detach to SkyPlug for installation and replacement. Through the company's app, it hopes to be a go-to platform for smart-home management.
Shares of Skyx Platforms had plummeted over 80% since the company's initial public offering (IPO) in February. But shares skyrocketed after Benchmark analyst Michael Legg placed a $15 per-share price target on Skyx Platforms stock. Trading volume surged as investors tried to take advantage of the strong upside possibility.
Source Fool.com
