Why Is MGO Global (MGOL) Stock Up 45% Today?


  • MGO Global (MGOL) stock is rising alongside heavy trading on Monday.
  • That comes ahead of its earnings report for the first quarter.
  • The company will release earnings after markets close on Tuesday.
MGOL Stock - Why Is MGO Global (MGOL) Stock Up 45% Today?

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MGO Global (NASDAQ:MGOL) stock is on the rise Monday with heavy trading as investors await the company’s latest earnings report.

MGO Global is preparing to release its earnings report for the first quarter of 2023 after markets close on Tuesday. The company will host a live webcast at 4:00 p.m. Eastern on Tuesday to discuss its earnings and operations for the quarter.

There’s not enough analyst coverage to give investors insight into what the market expects from MGOL’s earnings report. However, it’s worth keeping in mind that the company’s EPS from the same period of the year prior was -25 cents.

MGOL Stock Movement

Investors are hyping up shares of MGOL stock today ahead of its latest earnings report. This has shares seeing heavy trading volume this morning. As of this writing, over 5 million shares have changed hands. For comparison, the company’s daily average trading volume is closer to 586,000 shares.

MGO Global is a lifestyle brand portfolio company based out of Florida. Its main focus is direct-to-consumer digital commerce. The stock’s low closing price and market capitalization of $17.51 million as of this writing make MGOL a penny stock. That means it’s more vulnerable to volatility.

MGOL stock is up 44.5% as of Monday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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