Does DropCar, Inc. (DCAR) Have Any Gas After Touching 52-Week Low?

April 17, 2018 - By Louis Casey

The stock of DropCar, Inc. (NASDAQ:DCAR) hit a new 52-week low and has $1.82 target or 7.00 % below today’s $1.96 share price. The 6 months bearish chart indicates high risk for the $15.27 million company. The 1-year low was reported on Apr, 17 by Barchart.com. If the $1.82 price target is reached, the company will be worth $1.07M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 5.56% or $0.115 during the last trading session, reaching $1.955. About 331,964 shares traded. DropCar, Inc. (NASDAQ:DCAR) has declined 62.77% since April 17, 2017 and is downtrending. It has underperformed by 74.32% the S&P500.

DropCar, Inc. provides app-based automotive logistics and mobility services for clients and the automotive industry. The company has market cap of $15.27 million. The firm offers Vehicle Support Platform, a cloud platform and mobile app that help clients and automotive-related companies in reducing the cost, hassles, and inefficiencies of owning a car or fleet of cars in urban centers. It currently has negative earnings. The Company’s technology platform blends the efficiency and scale of cloud computing, machine learning, and connected cars with the trained drivers to move cars to/from fully staffed, secure garages to/from the people or businesses who own them.

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