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Magic Empire Global LimitedMagic Empire Global LimitedMagic Empire Global Limited

Magic Empire Global Limited

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MEGL trade ideas

Volume SpikeBig volume spike for such a small stock. The stock has been obliterated and has been stuck in bullish wedge for several months now. The company had promised to buy back shares several months back. The company has roughly 12 million cash all figures on yahoo finance are in Yuan not US. Debt is non existent. The company is slightly cash flow positive. Why the huge volume spike on a Friday after hours can this be the beginning of something special a bear market perhaps? The company reported earnings for the first 1/2 of 2024 when most Chinese companies report but once a year. Revenue increased by approximately 26.9% from approximately HK$6.1 million for the six months ended June 30, 2023 to approximately HK$7.7 million (US$1.0 million) for the six months ended June 30, 2024 Net income decreased by approximately 13.6% from approximately HK$0.7 million for the six months ended June 30, 2023 to approximately HK$0.6 million (US$80,000) for the six months ended June 30, 2024 Long the stock
NASDAQ:MEGLLong
by sebastiannatalia
1
Buying as much as I can.I’m buying this Chinese IB for the simple fact..Xi! I think this guy Xi and his team of financial minions said; “we had enough of this shit! Turn the presses on stimuuuuuuuuuuuuuuuuuuuuuuuuulate!” Financial stocks are going to explode ! The name.Magic Empire says it all..A small brokerage with cash reserves and plenty of business opportunities to grow into something meaningful in China. The last earnings report showed that the company will be profitable and they are currently cash flow positive! I buy!
NASDAQ:MEGLLong
by sebastiannatalia