Erayak Power Solution Group Inc. (NASDAQ: RAYA) saw its stock price decline by 7.6% on Monday, closing at $1.33 after reaching an intraday low of $1.22. Trading volume was significantly reduced, with approximately 434,702 shares changing hands, compared to the average daily volume of over 2.5 million shares.
The stock had closed at $1.44 on the previous trading day, marking a notable drop in value. The decrease in share price occurred despite relatively low trading activity during the session.
**Why this matters**
The decline in Erayak Power Solution Group’s stock price, coupled with a sharp drop in trading volume, may indicate cautious investor sentiment or a lack of strong buying interest at current price levels. Monitoring future trading patterns and company announcements will be important to assess the stock’s short-term direction.
Source: NewsData