Posted December 19, 2020 07:29:11Bradford Exchange (BCE) has released a review of its stock price.
Bridget McKenzie, vice-president, operations, said the stock’s price has dropped by more than 30% over the past three months and she expects the stock to fall further, due to a reduction in its net operating income (NEO) from operations and an increase in costs.
BCE is currently trading at around $4.90 per share, according to its most recent financial statements.
McKenzie said that the company had made several investments over the years that have had a positive impact on its performance.
She said it was also investing in new technology and manufacturing processes to help improve the efficiency of the exchange.
“We have the ability to continue to invest in those areas as we continue to expand,” McKenzie said.
The company has already raised $2.5 million in its first round of funding in January 2018.
Earlier this month, the company said it would increase its dividend to 20 cents per share.
Its stock price has fallen by more then 30% since its debut in 2017.
In October, the exchange announced it was going to review its financial statements to determine if the company was making financial assumptions and to adjust its dividend structure, which it was only due to pay out in 2021.
On Wednesday, McKenzie said that BCE was evaluating its strategy to increase its share price.