NXTD Stock: Why It Increased This Week

By Amit Chowdhry ● Oct 1, 2021
  • The stock price of NXT-ID Inc (NASDAQ: NXTD) increased noticeably this week. This is why it happened.

The stock price of NXT-ID Inc (NASDAQ: NXTD) – a provider of technology products and services for healthcare applications – increased noticeably this week as it increased 9.39% in the previous trading session and increased by over 4% pre-market. Investors are responding positively to Nxt-ID sending an important letter to its shareholders from the company’s Chief Executive Officer Chia-Lin Simmons regarding the upcoming Special Meeting of the Company’s shareholders (Special Meeting), scheduled to be held on Friday, October 15, 2021.

The company is asking its shareholders to vote today “FOR” the reverse split proposals relating to NXT-ID’s common stock and Series C preferred stock so that it can regain compliance with Nasdaq requirements and continue to be listed on this major stock exchange. The company said that the need to approve each of the reverse stock split proposals is urgent. Without such approval, the company expects that its stock will be delisted from Nasdaq as soon as October 18, 2021, which would adversely affect the ease of trading and value of all of the company’s securities, including that of its common stock.

The letter to shareholders offers information regarding the two reverse stock split proposals, why they are necessary, and how a vote “FOR” each of them will allow NXT-ID to maintain steady access to capital to pursue its new management team’s growth strategies. The company launched a new microsite to find more information about it at voteFORnxt-id.com.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.