Magic Empire Global Limited (NASDAQ:MEGL) Sees Significant Growth in Short Interest

Magic Empire Global Limited (NASDAQ:MEGL) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 237,800 shares, an increase of 187.2% from the September 30th total of 82,800 shares. Based on an average daily volume of 238,700 shares, the short-interest ratio is presently 1.0 days. Currently, 2.5% of the shares of the stock are sold short.

Magic Empire Global Stock Performance

Shares of MEGL stock opened at 0.48 on Friday. Magic Empire Global has a twelve month low of 0.41 and a twelve month high of 1.47. The stock’s fifty day simple moving average is 0.49 and its 200 day simple moving average is 0.55.

Magic Empire Global Company Profile

Magic Empire Global Limited engages in the provision of corporate finance advisory services and underwriting services in Hong Kong. The company provides initial public offering sponsorship, financial and independent financial advisory, post-listing compliance advisory, and underwriting services by acting as global coordinator, bookrunner, lead manager, or underwriter.