Eqonex gives back some of its 92% runup, continuing its volatile ways

After surging 92% over last week, Eqonex (NASDAQ:EQOS) gives back some of that gain, dropping 12% in late Monday morning trading New York time. The upward trajectory took off at about the time it announced listing the Polkdot token on its platform. It also said it significantly expanded its international sales team to meet increased institutional demand for digital assets on Oct. 26. The stock closed at $6.85 on Friday, Oct. 29, up from $3.56 at its Oct. 22 close. Eqonex (EQOS) is comprised of a cryptocurrency exchange as well as an over-the-counter trading platform, a securitization advisory service, crypto custodian Digivault, and asset manager Beltchley Park. Looking at its risk metrics, its short interest is ~3.59% and 24-month beta stands at 2.33; a beta of less than 1.0 indicates a stock with relatively low volatility. The Quant rating for Eqonex is Bearish, with poor grades in valuation, profitability, momentum and revisions.