Those looking into stocks which made a strong move on Tuesday could consider adding the Baosheng Media Group Holdings Limited (NASDAQ:BAOS) stock to their watch lists this morning.
Trading Data
On Tuesday, BAOS stock increased 20.25% at $1.9000 with more than 46.68 million shares, compared to its average volume of 1.32 million shares. The stock has moved within a range of $1.7300 – 2.5200 after opening the trade at $2.3000.
Major Trigger
The Baosheng Media Group emerged as a major gainer yesterday and ended the day with gains of as much as 21% amidst considerable interest. While the gains may be notable, it is also necessary to remember that there has been no news about the company for quite a while. The last news to have emerged about Baosheng Media Group was on September 30 when the company announced its financial results for the half year of 2021.
The company is involved in the marketing solutions supply space and is mainly known for providing marketing optimisation solutions that can add value. In addition to that, its products help marketing professionals when it comes to marketing strategies and also helps in deploying ads strategically on some of the more popular social media platforms. In the first half of the year, the company generated revenues of $2.4 million and that represented a massive slump of 75.4% from the $9.8 million that it had generated in the first half of 2020.
Technical Data
BAOS stock is trading above the 20-Day and 50-Day Moving averages of $1.72 and $1.87 respectively. However, the stock is trading below the 200-Day moving average of $3.54. The stock is up 14% in the past month.
