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Tag: MFH Stock

  • MercurityFintech Holding Inc. (MFH) stock surged in the premarket trading session; here’s why

    In the premarket trading session, at last check, MercurityFintech Holding Inc. (MFH) stock had surged by 6.84% to $6.09. MFH stock closed the previous session losing -3.39% at $5.70. The MFH stock volume traded 94863.0 shares. In the past year, MFH stock jumped up by156.76%, and in the past week however, it shed -10.80%. In the past three and six months, the MFH stock has plunged by-29.10% and added 74.31% respectively.

    Find out about MercurityFintech Holding’s business operations and model

    MercurityFintech Holding Inc. is an internet retail company that focuses on providing digital asset infrastructure solutions. The company focuses on designing, manufacturing, and installing technological solutions based on blockchain and customizes the solutions as well. The company has expanded its operations in the British Virgin Islands and Asia Pacific region. The client base of MFH stock includes traders, communities, and liquidity merchants. The primary product is an asset digitalization platform which provides traditional assets la blockchain-based digital make-over. The traditional assets include fiat currencies, bonds, and precious metals.

    Blockchain platforms are also decentralized finance platform which are more efficient in terms of cross border payments services through NBpay. MercurityFintech also provides supplemental and customized services which include software development, maintenance, and installation/upgrade services across its platforms. The company was previously known as JMU Limited until April 2020. The origin of the MFH stock started from 2011 and has an HQ in Beijing, China.

    Strategic transformation has consumed major portions of revenues and capital in the first quarter of 2021

    The company is undergoing strategic transition this year, and is focused on carrying out this transition as smoothly and efficiently throughout the year to create a sustainable platform of growth and high-performance execution. The business transition was not 2-dimensional simplistic process that could be carried out beside maintaining normal operations; revenue and time is of utmost utility and consideration during this business transformation as it can be reflected upon the financial result and balance sheet of MFH stock. Another important factor to note about the financial result is that the proceeds and revenue from the DeFi platform has not yet been realized in the report of first quarter 2021.

    The revenues in first-quarter 2021 had dropped to a whopping $81 thousand adjusted to GAAP as compared to $1392 thousand in Q1 2020. Cost of incomes for the principal quarter of 2021 was $35 thousand, contrasted with $79 thousand in a similar period last year. The expense of incomes was essentially owing to coordinate expenses identified with the agreement endorsed in July 2020.

    Net benefit for the main quarter of 2021 was $47 thousand, contrasted with $1,313 thousand in a similar period last year. Loss from operations for the principal quarter of 2021 was $4,554 thousand, contrasted with pay from tasks of $1,068 thousand in a similar period last year. Non-GAAP total deficit inferable from MFH stock for the principal quarter of 2021 was $721 thousand, contrasted with a total compensation of $1,068 thousand in a similar time of last year. Cash and money reciprocals were $287 thousand as of March 31, 2021, contrasted with $175 thousand as of December 31, 2020.

    The company sees uncertainty in the future quarters due to the strategic business transition which is why is MFH stock negates the provision of financial and business outlook.

  • Is pandemic favoring the Internet Retail Sector?

    New retail data showed that e-commerce continues to be the most popular form of purchase by consumers. Those statistics triggered a rally on Wednesday for shares of e-commerce companies.

    According to a US Census Bureau report, e-commerce purchases were up 29% in November compared to the same period of the previous year. Retail Metrics analyst Ken Perkins said it represented the biggest monthly increase for e-commerce since 2010 and was the seventh consecutive month of growth exceeding 20%. Shopify Inc. has risen as much as 8.4%, while eBay has risen by 5.4%. Etsy Inc. and Amazon.com Inc. both had gains of at least 2%.

    Perkins wrote in a report that e-commerce is still “dominant in the retail landscape.” He stated that the Centers for Disease Control and Prevention’s recommendation to avoid enclosed shopping areas and the record number of deaths related to Covid-19 have “driven consumers to use contactless payments in record amounts.”

    Jumia Technologies AG (NYSE:JMIA) shares were trading up 8.27% at $39.29 at the time of writing on Wednesday. The company on December 3, 2020 declared the completion of its At The Market offering.

    Jumia Technologies AG (NYSE:JMIA) share price went from a low point around $2.15 to briefly over $40.90 in the past 52 weeks, though shares have since pulled back to $39.29. JMIA market cap has remained high, hitting $3.16B at the time of writing, giving it price-to-sales ratio of more than 10.

    If we look at the recent analyst rating JMIA, Stifel downgraded coverage on JMIA shares with a Hold rating and a $16.71 price target, which implies room for -22.58% downside momentum this year.

    Alibaba Group Holding Limited (BABA) last closed at $261.89, in a 52-week range of $169.95 to $319.32. Analysts have a consensus price target of $338.48.

    eBay Inc. (EBAY) stock soar by 3.01% to $53.65. On December 8, 2020, the company announced that it is introducing a low cost way for sellers to securely ship trading cards. The most recent rating by Piper Sandler, on September 25, 2020, is at an Overweight.

    JD.com Inc. (NASDAQ:JD) Shares headed rising, higher as much as 2.86%. The most recent rating by Barclays, on August 24, 2020, is at an Overweight.

    Vipshop Holdings Limited (NYSE:VIPS) fall -1.16% after losing more than -$0.29 on Wednesday.

    Farfetch Limited (FTCH) last closed at $60.91, in a 52-week range of $5.99 to $61.65. Analysts have a consensus price target of $54.56.

    Chewy Inc. (CHWY) stock soar by 3.28% to $94.12. The most recent rating by Piper Sandler, on November 13, 2020, is at an Overweight. The firm on December 9, 2020 released its financial results for the third quarter of fiscal year 2020 ended November 1, 2020.

    Overstock.com Inc. (NASDAQ:OSTK) Shares headed rising, higher as much as 5.09%. The company declared on December 14, 2020, that it was recently recognized in the seventh annual Loyalty360 Awards for its innovation in technology and for its employee engagement with customers and with associates throughout the company. The most recent rating by Wedbush, on September 16, 2020, is at an Outperform.

    Amazon.com Inc. (NASDAQ:AMZN) rose 2.40% after gaining more than $75.84 on Wednesday. The company today reported that it’s here to help make buying – and returning – even more stress-free and convenient as possible this holiday season.

    Etsy Inc. (ETSY) last closed at $182.34, in a 52-week range of $29.95 to $179.93. Analysts have a consensus price target of $163.29.

    Pinduoduo Inc. (PDD) stock soar by 2.42% to $145.47. On December 15, 2020, the firm reported that it was named a pioneer in digital agriculture at a major conference, with its “cloud agriculture” model recognized as one of the top 10 achievements in digital agriculture in the world. The most recent rating by Nomura, on November 16, 2020, is at a Buy.

    CarParts.com Inc. (NASDAQ:PRTS) Shares headed falling, lower as much as -4.44%. The company recently announced that CEO Lev Peker and CFO/COO David Meniane have been named silver medal winners in the Executive of the Year and Operations Executive of the Year for mid-sized companies categories in the Best in Biz Awards. The most recent rating by ROTH Capital, on September 09, 2020, is at a Buy.

    Dada Nexus Limited (NASDAQ:DADA) rose 4.02% after gaining more than $1.49 on Wednesday. DADA recently announced the launch of “Warm Winter Plan” across China to ensure delivery riders’ safety and health during the winter season.

    Mercurity Fintech Holding Inc. (MFH) last closed at $3.05, in a 52-week range of $1.00 to $5.20. The company on November 27, 2020 declared its unaudited financial results for the third quarter ended September 30, 2020.

    Qurate Retail Inc. (QRTEA) stock soar by 1.35% to $10.52. The company on November 20, 2020 declared special cash dividend of $1.50 per common share and announced commencement of share buyback program. The most recent rating by Citigroup, on December 15, 2020, is at a Neutral.