Magic Empire Global Limited [MEGL] Revenue clocked in at $2.10 million, down -93.81% YTD: What’s Next?

Magic Empire Global Limited [NASDAQ: MEGL] stock went on an upward path that rose over 17.88% on Monday, amounting to a one-week price increase of more than 3.09%. The company report on August 10, 2022 that Magic Empire Global Limited Announced Closing of Initial Public Offering.


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Magic Empire Global Limited (Nasdaq: MEGL) (the “Company” or “Magic Empire”), a financial services provider in Hong Kong which principally engage in the provision of corporate finance advisory services and underwriting services, today announced the closing of its initial public offering (the “Offering”) of 5,000,000 ordinary shares at a price of $4.00 per share.

The aggregate gross proceeds from the Offering were $20 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on August 5, 2022 under the ticker symbol “MEGL.”.

The market cap for the stock reached $120.48 million, with 20.08 million shares outstanding and 7.40 million shares in the current float. Compared to the average trading volume of 8.56M shares, MEGL stock reached a trading volume of 4924328 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Magic Empire Global Limited [MEGL]:

The Average True Range (ATR) for Magic Empire Global Limited is set at 15.46, with the Price to Sales ratio for MEGL stock in the period of the last 12 months amounting to 57.37. The Price to Book ratio for the last quarter was 16.35, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for MEGL in the course of the last twelve months was 1204.80 with Quick ratio for the last quarter at 1.20.

MEGL Stock Performance Analysis:

Magic Empire Global Limited [MEGL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.09.

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 23.57, and the three-weeks RSI is set at 21.25 for Magic Empire Global Limited [MEGL]. The present Moving Average recorded at 5.33 for the last single week of trading.

Insight into Magic Empire Global Limited Fundamentals:

Magic Empire Global Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

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