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Converge Technology Solutions Corp T.CTS

Alternate Symbol(s):  CTSDF

Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with advisory, implementation, and managed services across all IT vendors in the marketplace. Its segments include Converge Hybrid IT Solutions (Converge), and Portage Software-as-a-Solution (SaaS) Solutions. Converge is focused on delivering advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, digital workplace, and managed services offerings and provision of hardware and software products and solutions to clients across various industries and organizations. SaaS is focused on digital transactions between individuals, businesses, and government organizations.


TSX:CTS - Post by User

Post by AlwaysLong683on Nov 09, 2022 3:27pm
214 Views
Post# 35086292

Today's Trade Volume

Today's Trade VolumeIt would be less of a concern if today's trading volume was lower than normal. However, last I checked, CTS was down 13% on volume of 2.32M shares.

30-day average volume: 934k  (source: TMX Money).

I interpret this as a massive sell-off by CTS shareholders who are accepting lower and lower bid prices to dump their position. If you think this is irrational, then I suppose it's a great buying opportunity, but I still believe debt in a rising interest rate and inflationary environment is a share price killer, and perhaps the market was looking for signficant improvement in this area with the Sept. 30 numbers....?


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