Texas-headquartered Exela Technologies (NASDAQ:XELA) specializes in what’s known as business process automation. It’s a high-potential niche market in the digital age — and believe it or not, you can buy a share of XELA stock for less than $1.
From banking to healthcare, insurance to public sectors, Exela helps many types of businesses and organization to automate their workflow. Amazingly, Exela serves more than 4,000 customers throughout 50 countries. The company’s clientele even includes over 60% of the Fortune 100.
There’s been a lot going on with Exela Technologies lately. For example, the company has a note exchange program under way, which allows holders of XELA stock to exchange their shares for notes.
That’s just the beginning, as there’s more news to report about Exela Technologies. After learning more about the company, you might be surprised that the share price is as low as it is.
A Closer Look at XELA Stock
First of all, I must issue a warning. Sometimes, the Nasdaq exchange has been known to delist stocks that stay under $1 for too long.
XELA stock managed to stay above $1 for many months, until recently. Late last year, the stock fell below that key price level.
This doesn’t necessarily mean that the Nasdaq exchange will just banish Exela Technologies tomorrow or next week. Typically, the Nasdaq gives companies chances to rectify listing-compliance issues.
Still, it’s important that XELA stock should get back above $1 soon and stay there. As of March 3, the stock was trading at roughly 65 cents.
But hey, at least we can say that it’s easy for people to take a stake in Exela Technologies, even if they have small accounts.
The onset of Covid-19 in 2020 ushered in a major change in the way people do their work. Remote work became the norm rather than the exception, and businesses have had to adapt to this new paradigm.
With its Work-From-Anywhere platform for Intelligent Document Processing, Exela Technologies enables businesses to leverage machine learning via a web app. According to the company, this cloud-hosted solution makes it possible “to add data capture validation from users that can work from anywhere, anytime.”
Exela’s Work-From-Anywhere allows a business’s flexible/variable workforce to log in to the web app from their own devices, and it leverages advanced automation to facilitate the secure, low-cost processing of tasks and information.
Furthermore, this technological breakthrough is catching on fast. Impressively, Exela has already enrolled 6,000 users onto the Work-From-Anywhere platform. By the end of 2022, the company intends to increase the user count to over 25,000.
Cementing Its Presence in Europe
The business process automation revolution is gaining traction in the U.S. — no doubt about that. Yet, Exela certainly isn’t ignoring the international market for its software.
As evidence of its commitment in this regard, Exela recently purchased a stand-alone, multi-level, 25,000-square-foot headquarters in Dublin, Ireland. As the title of the press release suggests, this bold move will cement Exela’s presence in Europe.
It’s a major investment in the Irish payment space, but this will enable Exela to support the “Irish bank migration to digital payment channels,” as the company put it.
Vitalie Robu, Exela’s president of Europe, Middle East and Africa (EMEA), explained that this is a new phase in a long-standing commitment to Ireland’s financial markets:
For nearly ten years, Exela has offered a utility framework approach to the leading Irish banks by processing and clearing all domestic and cross border cheque payments. The service has grown to over 80% market share in Ireland with our close partnership with the Bank of Ireland, Allied Irish Bank, PTSB and Danske Bank and we aim to continue growing.
The Bottom Line on XELA Stock
With its cloud-hosted Work-From-Anywhere platform, Excela is a leading-edge provider of business process automation software.
Plus, the company is demonstrably committed to advancing the payment market in Ireland, and in Europe generally.
Therefore, it’s entirely possible that XELA stock will enrich its owners in the long run. Just be sure to keep an eye on the $1 level. This could be make-or-break for the stockholders and the company.
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On the date of publication, David Moadel 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.