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Is Rackspace Technology, Inc. (RXT) a Stock to Watch After Losing -7.62% This Week?

Monday, October 03, 2022 03:22 PM | InvestorsObserver Analysts

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Is Rackspace Technology, Inc. (RXT) a Stock to Watch After Losing -7.62% This Week?

Rackspace Technology, Inc. (RXT) stock has fallen 7.62% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bearish
Rackspace Technology, Inc. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on RXT!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With RXT Stock Today?

Rackspace Technology, Inc. (RXT) stock is trading at $4.12 as of 3:22 PM on Monday, Oct 3, a rise of $0.03, or 0.86% from the previous closing price of $4.08. The stock has traded between $4.02 and $4.22 so far today. Volume today is light. So far 929,971 shares have traded compared to average volume of 2,494,010 shares.

More About Rackspace Technology, Inc.

Rackspace Technology Inc is an end-to-end multi cloud technology services company. It designs, builds and operates its customers' cloud environments across all technology platforms, irrespective of technology stack or deployment model. The company's solutions include Application Services; Data; Colocation; Managed Cloud; Managed Hosting; Professional Services; and Security & Compliance. It operates in three reportable segments Multicloud Services; Apps & Cross-Platform; and OpenStack Public Cloud. It generates revenue through the sale of consumption-based contracts for its services offerings and from the sale of professional services related to designing and building custom solutions. Click Here to get the full Stock Report for Rackspace Technology, Inc. stock.

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