MGO Global (NASDAQ:MGOL) stock is rocketing higher on Tuesday alongside the release of the lifestyle brand portfolio company’s first quarter of 2024 earnings report.
MGO Global starts its earnings report with diluted earnings per share of -1 cents. That’s a major improvement over its diluted EPS of -9 cents from the same period of the year prior.
In addition to that, MGO Global reported revenue of $670,264 during the first quarter of the year. That’s much better than the company’s revenue of $45,147 reported during the first quarter of 2023.
Unfortunately, the company also reported an operating loss of $1.86 million during the quarter. That’s much wider than its operating loss of $692,506 reported during the same time last year.
MGOL Stock Movement on Tuesday
The latest earnings report from MGO Global brings with it heavy trading of the company’s shares. That has more than 21 million shares of MGOL stock changing hands as of this writing. That’s well above its daily average trading volume of about 233,000 shares.
MGOL stock is up 105.5% as of Tuesday morning. Investors will note that MGOL shares were down 51.1% year-to-date when markets closed yesterday.
There are still more stock market stories traders are going to want to read about today!
We have all of the hottest stock market news that investors need to know about on Tuesday! That includes the biggest pre-market stock movers, the latest news on cruise stocks 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.
