Wunong Net Technology Company Limited [WNW] Revenue clocked in at $7.70 million, up 547.14% YTD: What’s Next?

Wunong Net Technology Company Limited [NASDAQ: WNW] loss -36.34% or -44.52 points to close at $77.98 with a heavy trading volume of 1159558 shares. The company report on December 15, 2020 that Wunong Net Technology Announces Pricing of Initial Public Offering.

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Wunong Net Technology Co. Ltd. (“Wunong” or the “Company”) (Nasdaq: WNW), an e-commerce company using an innovative platform to sell a myriad of food products, announced the pricing of its initial public offering of 5,000,000 shares of its ordinary shares at a price of US$5.00 per share to the public for a total of US$25,000,000 of gross proceeds to Wunong. In addition, the underwriters have purchased 999,910 ordinary shares from a selling shareholder for US$4,999,550 for a total of US$29,999,550 in total gross proceeds from the offering.

The ordinary shares are expected to begin trading on the Nasdaq Capital Market on December 15, 2020 under the symbol “WNW”. The offering is expected to close on December 17, 2020, subject to customary closing conditions.

If we look at the average trading volume of 2.30M shares, WNW reached to a volume of 1159558 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Wunong Net Technology Company Limited [WNW]:

The Average True Range (ATR) for Wunong Net Technology Company Limited is set at 54.48, with the Price to Sales ratio for WNW stock in the period of the last 12 months amounting to 397.70.

Trading performance analysis for WNW stock

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum.

Wunong Net Technology Company Limited [WNW]: A deeper dive into fundamental analysis

Wunong Net Technology Company Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.

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