Starbox Group Holdings Ltd. [STBX] is -76.17% lower this YTD. Is it still time to buy?

Starbox Group Holdings Ltd. [NASDAQ: STBX] gained 7.94% on the last trading session, reaching $3.67 price per share at the time. The company report on August 25, 2022 that Starbox Group Holdings Ltd. Announces Closing of US$21.5 million Initial Public Offering Including Partial Exercise of Over-Allotment Option.

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Starbox Group Holdings Ltd. (Nasdaq: STBX) (the “Company” or “Starbox Group”), a service provider of cash rebates, digital advertising, and payment solutions, today announced the closing of its initial public offering (the “Offering”) of 5,375,000 ordinary shares at a public offering price of US$4.00 per ordinary share, including 375,000 ordinary shares issued pursuant to the partial exercise of the underwriters’ over-allotment option. The ordinary shares began trading on the Nasdaq Capital Market on August 23, 2022 under the ticker symbol “STBX.”.

The Company received aggregate gross proceeds of US$21.5 million from the Offering, before deducting underwriting discounts and other related expenses.

Starbox Group Holdings Ltd. represents 45.00 million in outstanding shares, while the company has a total market value of $165.15 million with the latest information. STBX stock price has been found in the range of $3.30 to $4.60.

If compared to the average trading volume of 8.23M shares, STBX reached a trading volume of 10036237 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 Starbox Group Holdings Ltd. [STBX]:

The Average True Range (ATR) for Starbox Group Holdings Ltd. is set at 4.63, with the Price to Sales ratio for STBX stock in the period of the last 12 months amounting to 27.67. The Price to Book ratio for the last quarter was 58.25.

Trading performance analysis for STBX stock

Starbox Group Holdings Ltd. [STBX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.69.

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. The RSI for the last a single of trading hit 10.81. The present Moving Average recorded at 3.92 for the last single week of trading.


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