Exela Technologies (NASDAQ:XELA) stock is soaring higher on Tuesday as Reddit traders continue to short squeeze the global business process automation company.
Renewed interest in XELA stock comes alongside an announcement from the company. It says that its Digital Mailroom and DrySign offerings have reported record additions of new users during the second quarter of 2021.
The positive new users results during the second quarter have investors excited for the company’s Q2 earnings report. Current estimates have that report coming out on Aug. 9, 2021, which is only a couple of weeks away.
Now, let’s take a look at what investors are saying about XELA stock today.
XELA Stock Talk
“Going all into XELA! 2nd quarter earnings is around the 9th of August. I can’t wait for the squeeze!!” — TechBaller1
“XELA with some PR this morning. Great news” — jaydacosta
“Is today just going to be a red day for most stocks? $XELA is my only one that’s still green 😬” — nerdo105
“Glad I grabbed some XELA 2.5C’s Friday!” — WikiHowWikiHow
“XELA bouncing back up again” — thejet6969
XELA stock is also experiencing incredibly heavy trading today as investors react to the recent news. As of this writing, more than 64 million shares of the stock have changed hands. That’s already above the company’s daily average trading volume of about 60.2 million shares.
XELA stock was up 18.9% as of Tuesday morning.
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On the date of publication, William White 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.
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