Banxa (CVE:BNXA) Shares Down 36.4% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA) shares dropped 36.4% during mid-day trading on Wednesday . The company traded as low as C$0.74 and last traded at C$0.75. Approximately 171,042 shares were traded during trading, an increase of 458% from the average daily volume of 30,675 shares. The stock had previously closed at C$1.18.

Banxa Stock Up 25.3 %

The company has a market capitalization of C$42.83 million, a price-to-earnings ratio of -4.70 and a beta of 2.75. The business has a fifty day simple moving average of C$0.74 and a two-hundred day simple moving average of C$0.56. The company has a quick ratio of 2.36, a current ratio of 0.96 and a debt-to-equity ratio of 194.64.

Banxa Company Profile

Banxa Holdings Inc operates as a payments service provider for the cryptocurrency exchanges in Australia, North America, and Europe. It provides Web3 on-and-off ramp solutions that allows users to purchase cryptocurrency and NFT’s using fiat currency. The company’s platform also provides connections to approximately 40 blockchain ecosystems allowing businesses and projects to list new tokens on existing blockchains or explore opportunities to list on new blockchains.