There were some stocks that ended up with handsome gains on Monday and before the start of trading today, it may be a good move for investors to take a look at some of the notable gainers. One of the notable gainers on Monday was the Livento Group (OTCMKTS:NUGN) stock, which attracted considerable interest from investors and ended up with gains of as much as 24% as a consequence.
Trading Data
On Monday, NUGN stock soared 24% to $0.0740 with more than 2.68 million shares, compared to a volume of 1.26 million shares. The stock moved within a range of $0.0550 – 0.0849 after opening trade at $0.0620.
About Livento Group
The company has a fairly unique business model. It seeks to acquire companies with disruptive business models and then develop them into sustainable businesses. Not too long ago Livento Group had been successful in launching the film and television production firm BOXO Productions, which is headed by some of the leading producers and actors in the entertainment industry. On Monday the company had actually come into the news cycle after Livento Group sent out a letter that was addressed to the shareholders.
Livento Group Provides Shareholder Letter And Fourth Quarter Material Events Line-Up
could be a good idea for investors to take a look at some of the highlights from the letter in order to make their minds up about the Livento stock. It was noted that 2021 had been a particularly fruitful year for the company in terms of growth and that had made it possible for Livento to accelerate its move to eventually get listed on a larger exchange.
On the other hand, the letter also touched upon the fact that Livento had managed to move on to the film and television spaces in a big way and had also started getting major Hollywood producers on board. In addition to that, it was also noted that the company’s artificial intelligence program Elise had also been taken to bigger markets.
In the letter, it was also noted that its subsidiary unit BOXO Productions had managed to bag an interest in the post-production stage of the Robert De Niro starrer ‘Wash Me In The River’ earlier on in the year in May 2022. The film had been scheduled for a release in theatres in the fall of this year but it has since been delayed and it is now going to be released in September next year.
On the other hand, the company also provided an update with regards to the IPO of its subsidiary unit Euro Dot, which generated yearly revenues to the tune of $12 million. In the letter, it was noted that Livento was aiming for an IPO at some point in September next year.
The company had earlier been known as NuGene International and the company is now seeking to change its name to Livento Group LLC. To that end, it was noted in the letter that an application to that effect had been sent in to FINRA. The whole thing is expected to be updated by the end of August this year. In addition to that, it was also pointed out that the company was also considering the possibility of a change in its ticker symbol once the name was officially changed.
Technical Data
NUGN stock is trading above the 20-Day and 50-Day Moving averages of $0.0538 and $0.0619 respectively. However, the stock is trading below the 200-Day moving average of $0.0488. The company has a total market capitalization of $3.10 million. The stock is up 223% over the past 6-month.
