- Magic Empire Global (MEGL)’s share price soared 2,325% in its market debut. Here are some details about the stock that you should know.
Magic Empire Global (MEGL)’s share price soared 2,325% in its market debut. Hong Kong-based Magic Empire Global (MEGL) is one of several China- or Hong Kong-based companies with a small US listing that saw its price skyrocket when it debuted in the market. MEGL stock price climbed as high as 5798.75% during intraday trading and trading was halted several times.
AMTD Digital (HKD) is another stock that recently caught the eye last week. AMTD Digital’s stock price is up more than 10,000% since last month with a 52-week high of $2,555.30 and a 52-week low of $12.05.
Magic Empire Global – which does business as Giraffe Capital – is known as a financial service provider in Hong Kong mainly engaged in the provision of corporate finance advisory services and underwriting services. And its service offerings mainly include:
1.) IPO sponsorship services;
2.) Financial advisory and independent financial advisory services;
3.) Compliance Advisory Services; and
4.) Subscription Services.
Last night, Magic Empire announced the price for its IPO of 5 million common shares at a price of $4 per share. The common stock has been approved for listing on the Nasdaq Capital Market and began trading under the symbol “MEGL” today.
Network 1 Financial Securities acts as sole bookrunner and lead offering manager.
MEGL ended up opening at $49.25 and hitting $235.95 before closing at $97 today.