Nxt-ID Inc. (NXTD) stock plunges in the pre-market trading. What is NXTD up to?

Nxt-ID Inc. (NASDAQ: NXTD) stock gained by 14.46% at last close whereas the NXTD stock falls by 7.81% in the pre-market at last check. The decline in NXTD stock price during pre-market after rising in the last trading close is not followed by any recent news. Nxt-ID offers healthcare infrastructure products and services. NXTD is well-known in the fields of access control, biometric identity authentication, security and privacy, encoding and protection of data, payments, miniaturization, and sensor technology.

What should you know about NXTD?

First, it can be understood that NXTD stocks are categorized as a penny stock, identified as a stock trading less than $5 per share by the Securities and Exchange Commission (SEC). Penny inventories can be volatile therefore making it a significant part of your portfolio could be risky.

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NXTD traded less than 50 cents per share for most of 2020. However, it recovered in December and the stock finished at approximately $1.60. In 2021 Nxt-shareholders IDs finally took a wild roller coaster trip in February and March. The stock reached a 52 week high of $3.44 on February 17 and fell down to $1.32 until February 9, 2021. It was a real hot-and-drown situation

Also,

As disclosed in an SEC filing, NASDAQ informed Nxt-ID that the security of NXTD no longer met the minimum bidding price per share requirement for the previous 30 consecutive working days. The shareholder of NXTD would undoubtedly be relieved of the knowledge that on January 4, 2021, NASDAQ confirmed to Nxt-ID that it has complied with bid price standards and that the matter is now shut. So, the possibility of the de-listing is in the rear mirror, but it is not permanent because of NXTD’s current share price

But,

It is claimed that Nxt-ID improved its capital situation by reducing its debt significantly. In particular, Nxt-ID paid approximately $5 million in advance for the senior debt backed by NXTD’s principal. Thus, the remaining capital of the debt reduced by Nxt-ID to approximately $5.7 million dollars. This isn’t quite half the main one, but it’s very narrow. Vincent S. Miceli, CEO of Nxt-ID, said that this reduction in his debt would save his company about $700,000 in interest costs annually. Prepaid payments could further enhance the overall capital position of Nxt-ID.

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