NXT-ID Inc (NXTD) Shares Lose Yesterday’s Gains For No Apparent Reason

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Yesterday, shares of NXT-ID Inc (NASDAQ:NXTD) were up big after it was announced that WorldVentures’ new DreamTrips Smart Card that holds payment data and other crucial travel data for members, would be develoed by none other than NXT-ID. This sent shares of the stock soaring, jumping from $0.73 at the close of the market on Friday to $1.43 in after-hours yesterday. Today, however, the stock has returned almost to its pre-news price, as shares are trading at just $0.89 as of now.

There really is no apparent reason for this decline other than investors taking their profits on yesterday’s news. There is still plenty of profit taking to be had, but undoubtedly the fact that WorldVentures has around 500,000 DreamTrips members means that NXT-ID Inc (NASDAQ:NXTD) could generate very significant revenue from this partnership. The plan is to make these NXT-ID cards available to the entire member-base, while providing the smart card to each new member as they sign up. WorldVentures gets about 80,000 new members monthly so this could certainly have a large impact on NXT-ID.

The stock is down 27.97% or $0.347 following the news, hitting $0.893 per share. About 6.47 million shares traded hands or 640.01% up from the average. NXTD has declined 50.40% since June 15, 2015 and is downtrending. It has underperformed the S&P500 by 41.53%.

Nxt-ID, Inc. is an early stage technology company. The company has a market cap of $39.43 million. The Firm is focused on products, solutions and services required for biometric secure access control. It currently has negative earnings. The Firm has three lines of business, which include mobile commerce ; law enforcement and biometric access control applications, and law enforcement.

#focuskw=’NXT-ID Inc (NASDAQ:NXTD)’##metadesc=’Yesterday, shares of NXT-ID Inc (NASDAQ:NXTD) were up big after it was announced that WorldVentures’ new DreamTrips Smart Card that holds payment data and other crucial travel data for members, would be develoed by none other than NXT-ID. This sent shares of the stock soaring, jumping from $0.73 at the close of the market on Friday to $1.43 in after-hours yesterday. Today, however, the stock has returned almost to its pre-news price, as shares are trading at just $0.89 as of now.

There really is no apparent reason for this decline other than investors taking their profits on yesterday’s news. There is still plenty of profit taking to be had, but undoubtedly the fact that WorldVentures has around 500,000 DreamTrips members means that NXT-ID Inc (NASDAQ:NXTD) could generate very significant revenue from this partnership. The plan is to make these NXT-ID cards available to the entire member-base, while providing the smart card to each new member as they sign up. WorldVentures gets about 80,000 new members monthly so this could certainly have a large impact on NXT-ID.

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