Why Is Actelis Networks (ASNS) Stock Down 45% Today?

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  • Actelis Networks (ASNS) stock is dropping without news.
  • However, it recently underwent a massive rally.
  • Today’s drop is the shares giving up some of those recent gains.
ASNS Stock - Why Is Actelis Networks (ASNS) Stock Down 45% Today?

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Actelis Networks (NASDAQ:ASNS) stock is falling on Wednesday, but it’s not due to any negative news from the telecommunications equipment company.

Instead, today’s drop comes after the company underwent a rally on Tuesday. That resulted in shares of ASNS stock closing out normal trading hours on Tuesday up 114.1%. That came alongside heavy trading as some 2.3 million shares changed hands.

Considering that massive gain yesterday, it makes sense that ASNS stock would give up some of it the next day. Fortunately, it doesn’t come with heavy trading as only about 28,000 shares have traded hands as of this writing. The company’s daily average trading volume is about 55,000 shares.

What Was Behind the ASNS Stock Rally?

While heavy trading was the key factor behind the rally, there also was recent news from Actelis Networks. The company released a showcase of its new hybrid fiber-copper solutions. This offers gigabit connectivity in areas where fiber installation is hard and expensive.

Actelis Networks points out that there are a couple of advantages to its hybrid fiber-copper solutions. The first is that it doesn’t require rewiring of the building. The second is offering gigabit speeds in a timely and cost-effective manner.

ASNS stock is down 45% as of Wednesday morning.

There’s even more stock market news traders will want to know about below!

We have all of the hottest stock market news traders need to know about for Wednesday! That includes why shares of Guardforce AI (NASDAQ:GFAI), Akanda (NASDAQ:AKAN), and Aptorum (NASDAQ:APM) stock are in the news today. You can catch up on all of that at the following links!

More Wednesday Stock Market News

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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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