Megaport (OTCMKTS:MGPPF) Shares Down 29.7% – Should You Sell?

Megaport Limited (OTCMKTS:MGPPF) traded down 29.7% during mid-day trading on Tuesday . The company traded as low as $5.28 and last traded at $5.7975. 618 shares were traded during mid-day trading, a decline of 4% from the average session volume of 645 shares. The stock had previously closed at $8.25.

Megaport Trading Up 11.6%

The stock’s 50-day moving average is $8.07 and its 200 day moving average is $9.08.

Megaport Company Profile

Megaport (OTCMKTS: MGPPF) is a global provider of Network as a Service (NaaS) solutions, enabling enterprises, cloud providers and network service providers to establish on-demand, scalable connectivity across data centers and cloud platforms. Through its software-defined elastic interconnection platform, Megaport offers customers the ability to provision private connections to leading cloud services such as Amazon Web Services, Microsoft Azure, Google Cloud and other major providers without the need for traditional long-term contracts or physical infrastructure deployments.

Founded in 2013 and headquartered in Brisbane, Australia, Megaport launched its services in 2014 and has since expanded through organic growth and strategic partnerships.