The stock of Xtant Medical Holdings, Inc. (XTNT) declined in the after-hours following the announcement of its interim Chief Financial Officer in a press release. The stock of XTNT was trading in the after-hours at $0.56, losing more than 8.5% from the previously closed value. At the end of the last trading session, the stock closed at $0.61. The shares traded in the last trading session were approx. 104.47K.
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Reason for the XTNT stock gain
On 3rd January 2022, Xtant Medical Holdings, Inc. (XTNT) announced in a press release that they have appointed Scott Neils as the Interim Chief Financial Officer CFO. Scott succeeded Greg Jensen who is the current Vice President. The decision is effective from 3rd Jan.
Mr. Scott Neil has the experience of 15 years of public accounting and corporate financing. He has been serving the company since August 2019. Managing the company’s finance was the biggest challenge for him which he did excellently. Before joining Xtant Medical Holdings, Inc. (XTNT), and Mr. Neils was as serving as Audit Senior Manager at Baker Tilly US, LLP, which is an advisory, taxa as well as assurance company. And before them all, he served as Audit Manager at Grant Thornton LLP from 2007 to 2015. Mr. Neils is a certified public accountant and holds a degree of Bachelor of Science in Accounting. He had done his Masters in Accountancy from the Carlson School of Management at the University of Minnesota.
Effect on the stock gain
The position is interim and the permanent CFO is yet to be announced by the company. Despite the excellent background of Mr. Neils, investors are not relying on the decision. Interim leaders do not have the full authority to execute their decisions despite their experience. Investors may respond positively when the company announces the permanent CFO.
Conclusion
The upcoming months are crucial for the company and Mr. Neils. They will have to deliver solid results to gain the trust of the investors. The next quarter’s results will be crucial for the stock of Xtant Medical Holdings, Inc. (XTNT).
