The Express stock hit a new level of high. This took place this Monday. The level of high can be compared to the trading of outer space. It made a continuation of the parade of all the stocks that are shorted heavily. Those are the stocks that have made a blast-off in alliance with the surge of GameStop on Friday.
The Express stock made a recent trade of 3.26 USD, with an increase of 82%. The stock has also witnessed a levitation of beyond 200%. This took place after the close of that happened on Thursday. Bed Bath & Beyond was among the other stocks that got shorted heavily.
Express Stock Possibilities
According to the reports of the Wall Street Journal, the company approached Lazard Freres, an investment bank, to help take care of everything including the Express stock. It was done so particularly to deal with the financial crisis induced by the coronavirus pandemic. This report was made in the month of December 2020.
Timothy Baxter, the Chief Executive Officer of the Express gave a statement with regard to the ongoing situation. It was said that the company was not looking forward to filing for bankruptcy anytime soon. it was also added that the authorities of the Express stock would work towards taking appropriate and decisive action for the proper management of liquidity throughout the Coronavirus pandemic.
The Chief Executive Officer also made a mention about the possibilities of the new year with regard to improving the state of the company. He said that there were several options the company could take in order to enhance the liquidity of the company. If what he says, turns out to be true then there could be some improvement in the conditions of the Express stock within a year.
