In the past week, investors have moved in on the Muscle Maker Inc (NASDAQ:GRIL) stock in a big way and sent it soaring by as much as 19% as a consequence.
Market Action:
On Friday, GRIL stock moved up 2.78% at $1.1100 with more than 139.95K shares, compared to its average volume of 244.42K shares. The stock has moved within a range of $1.0509 – 1.1100 after opening the trade at $1.0500.
What’s The Buzz?
The magnitude of the gains made by the company is expected to bring it into focus among investors today and hence, it might be a good time to look into Muscle Maker. In this context, it should be noted that the gains last week were not generated due to any specific development and many investors might even think that the whole thing was perhaps speculative in nature.
It was back in April this year that the company was last in the news and that was in relation to a letter that it had sent to its shareholders. In the letter, the company provided investors with a detailed assessment of the sort of growth that it had managed to generate up until the date of the letter and also provided a snapshot of some of the achievements.
More importantly, Muscle Maker also noted that after having suffered during the COVID 19 pandemic, it was experiencing a recovery in its business. Investors could do well to keep an eye out for any fresh news that might emerge with regards to Muscle Maker.
Technical Data
GRIL stock is trading above the 20-Day and 50-Day Moving averages of $1.07 and $1.08 respectively. However, the stock is trading below the 200-Day moving average of $1.57. The stock is down 10% in the past 3-month.
