The public float for PMAX is 2.93M, and currently, short sellers hold a 2.85% ratio of that floaft. The average trading volume of PMAX on October 03, 2024 was 266.61K shares.
PMAX) stock’s latest price update
The stock price of Powell Max Ltd. (NASDAQ: PMAX) has dropped by -8.08 compared to previous close of 3.96. Despite this, the company has seen a fall of -9.45% in its stock price over the last five trading days. globenewswire.com reported 2024-10-02 that HONG KONG, Oct. 02, 2024 (GLOBE NEWSWIRE) — Powell Max Limited (Nasdaq: PMAX) (the “Company” or “Powell Max”), a financial communications services provider headquartered in Hong Kong, today announced that WallachBeth Capital LLC (the “Underwriter”), as the lead underwriter of the Company’s initial public offering (the “Offering”), has partially exercised the over-allotment option (the “Option”) to purchase an additional 99,765 Class A Ordinary Shares of the Company (the “Additional Shares”) at the public offering price of $4.00 per share. As a result, the Company has raised gross proceeds of $399,060, in addition to the previously gross proceeds of $5,707,000, before deducting underwriting discounts and offering expenses, already received in the Offering.
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PMAX’s Market Performance
The simple moving average for the past 20 days is -6.97% for PMAX’s stock, with a -6.97% simple moving average for the past 200 days.
PMAX Trading at -6.97% from the 50-Day Moving Average
After a stumble in the market that brought PMAX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -22.55% of loss for the given period.
During the last 5 trading sessions, PMAX fell by -9.45%, in comparison to the 20-day moving average. In addition, Powell Max Ltd. saw -9.00% in overturn over a single year, with a tendency to cut further losses.
Conclusion
In a nutshell, Powell Max Ltd. (PMAX) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
