MGO Global (NASDAQ:MGOL) stock is on the rise Wednesday after releasing its earnings report for the third quarter of 2023!
The lifestyle brand portfolio company started off this report with a revenue of $1.47 million. That’s a massive 948% increase year-over-year (YOY) compared to its prior revenue of $140,191. There aren’t sufficient analyst estimates to compare this revenue to, though.
As for earnings per share, the company’s came in at -17 cents during the quarter. That’s wider than the -6 cents per share reported in the same period of the year prior. Yet again, there are no analyst estimates to compare this data to.
What’s Next for MGOL Stock
Maximiliano Ojeda, co-founder, chairman and CEO of MGO Global, said the following in the earnings report:
“While we anticipate the macroeconomic environment to remain challenging through the remainder of the year, we have every intention to continue to focus on creating value for our fellow shareholders by maintaining operational excellence in our day-to-day business activities and implementing growth strategies designed to expand both our portfolio of distinctive brands and categories of high quality product offerings to our customers.”
MGOL stock has seen some 3 million shares change hands as of this writing. That’s well above its daily average trading volume of around 183,000 shares. It also has MGOL stock up 30.8% as of Wednesday morning.
Investors who want more of the most recent stock market stories are in the right place!
We have all of the hottest stock market news worth reading about on Wednesday! Among that is why Heart Test Laboratories (NASDAQ:HSCS) stock is up today, the biggest pre-market stock movers this morning and more. All of that info is ready to go at the links below!
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On the date of publication, William White did not have (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.
