Muscle Maker Inc (NASDAQ:GRIL) has been in significant focus among investors in recent days and the situation remained the same with its stock on Thursday.
Trading Data
On Thursday, GRIL stock soared 6.11% at $1.3900 with more than 4.80 million shares, compared to its average volume of 1.90 million shares. The stock has moved within a range of $1.3401 – 1.4800 after opening the trade at $1.3900.
Major News
Yesterday, the Muscle Maker stock continued on its upward move and ended the day with gains of 6%. That took its gains for the past week to as much as 32%. There was no news about the company yesterday but earlier on in the week on November 1 Muscle Maker made an announcement with regards to the fact that it had signed a Master Franchise Agreement in Saudi Arabia for as many as 40 units.
It was a major development for the company since it is going to help Muscle Maker in further strengthening its presence in the international market. In addition to that, it is also important to bear in mind that Saudi Arabia is the biggest nation in the Middle Eastern region and a footprint in that market can only be a significant boost to Muscle Maker.
The 40 unit agreement that the company signed with Saudi Arabia has expanded its footprint at the international level by as much as 400% in an instance. Investors could consider adding the stock to their watch lists.
Technical Data
GRIL stock is trading above the 20-Day and 50-Day Moving averages of $1.19 and $1.11 respectively. However, the stock is trading below 200-Day moving average of $1.56. The stock is up 12% in the past 3-month.
