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Tag: NASDAQ: MYSZ

  • My Size (MYSZ) Stock Is Trending Up Despite Weaker Guidance

    My Size (MYSZ) Stock Is Trending Up Despite Weaker Guidance

    My Size, Inc. (NASDAQ: MYSZ) shares have experienced a noteworthy surge in the current trading session, registering a 17.61% increase and reaching a trading price of $0.8233. This surge in MYSZ stock price this session is following a downward revision of revenue guidance by the innovative AI-driven measurement solutions provider.

    Today, MySize (MYSZ) released a comprehensive shareholder update, delivered by the Founder and CEO, Ronen Luzon. Remarkably, MySize has managed to maintain its operations and financial performance relatively unscathed despite the ongoing Middle East crisis.

    This resilience is attributed to its extensive global presence and the strategic presence of its Naiz Fit offices in Spain, which have evolved into a central hub for our sizing solutions business. In the second quarter, the company strategically transitioned to the utilization of Fulfillment by Amazon (FBA) over direct fulfillment, ensuring the maintenance of inventory and order shipments from regional Amazon warehouses.

    The strategic shift has effectively mitigated inventory-related risks and enhanced overall operational efficiency. The amalgamation of Naiz Fit and Orgad has furnished MySize with a diversified revenue stream, cementing its status as a frontrunner in the fashion-tech sector and a prominent consolidator of cutting-edge sizing solutions.

    MYSZ has significantly expanded its brand presence, executed pivotal acquisitions, and experienced substantial revenue growth, all of which serve as the cornerstones for the establishment of a resilient and valuable enterprise for the future.

    In the year 2022, MySize executed two strategic acquisitions, namely Naiz Fit and Orgad, which culminated in an astounding 33-fold increase in revenue compared to the preceding year. During the 12-month span that concluded on December 31, 2022, MYSZ disclosed earnings totaling $4,459,000.

    This marked a stark comparison to the $131,000 revenue recorded in the fiscal year of 2021. In the initial half of 2023, MySize generated around $2 million in revenue and had previously issued guidance predicting revenues between $9 and $10 million for 2023.

    However, the current revenue trend, coupled with the approaching holiday shopping season, has led MySize to revise its revenue projections downwards, now expecting around $8 million for the 12-month period concluding on December 31, 2023. Additionally, it is anticipated that MySize will release its third-quarter financial results on November 15, 2023.

  • My Size Inc. (MYSZ) stock declines in pre-market session. Let’s find out why

    My Size Inc. (MYSZ) stock gained by 5.41% in the last trading close whereas the MYSZ stock price declines by 20.51% during pre-market session. On March 22, MySize has made two important announcement, firstly MYSZ has announced a pricing of $3.3million underwritten public offering of its common stock and secondly MySize is about to launch an app for Evropeyskiy Mall. MySize is the developer of unique measurement technology which is based on sophisticated algorithms, cutting-edge technology and also broad applications and has incorporated the apparel, e-commerce, DIY, shipping, and parcel delivery industries.

    RECENT DEVELOPMENTS

    MySize launching an Application for Evropeyskiy Mall

    Evropeyskiy Mall is the largest shopping center in Russia. MySize has planned to launch a user friendly application with the support of Evropeyskiy to provide consumers with an easy online shopping experience allowing them to digitally try on clothing at dozens of stores across the mall, as well as smooth cashier-free shopping through in-app check out.Anyone who will visit the Evropeyskiy Mall will be able to download the MySize ID app, which uses sensors already installed in the smartphones of customers that will provide them with highly precise clothing sizes for any type of clothing.

    MySize and Evropeyskiy Mall with this application are providing the customers with an unmatched shopping experience by combining the online convenience of individually controlled transactions with the in-person retail advantage of being able to leave the mall with an item physically in hand.

    $3.3 million priced, Underwritten public offering

    MySize revealed the pricing of an underwritten public offering, with net amount for the company, calculated to be about $3.3 million before cutting underwriting discounts and commissions, as well as approx. expenses of offering which has to be paid by MYSZ. MySize is planning to use the net amount generated from this offering for working capital and general corporate purpose. Aegis Capital Corp. is working as the only book-runner for the offering.