It was a memorable day in the markets for investors in Pro Music Rights Inc (OTCMKTS:NUVG) shareholders as the company’s stock went on a remarkable rally and ended up with gains of as much as 42%. The company came into focus yesterday after it announced its financial results for the second fiscal quarter.
Technical Data
NUVG stock is trading above the 20-Day and 50-Day Moving averages of $0.0800 and $0.0638 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0291. The company has a total market capitalization of $4.51 million.
Trading Data
On Tuesday, NUVG stock soared 42% to $0.0751 with more than 419K shares, compared to its average volume of 383K shares. The stock moved within a range of $0.0651 – 0.1000 after opening trade at $0.0900.
Industry Market Leader Pro Music Rights, Inc. (OTC: NUVG) Announces Q2 2022 Results with $432,579,903 in Assets with Significant Share Value Increase for Shareholders
In the quarter that ended on June 30, 2022, the assets of Pro Music Rights went up to $432,579,903 and that was a significant rise from assets of $109,017,232 in the prior year period. This resulted in a book value of $0.12 a share and that led to a boost of as much as 128.8% to shareholders in terms of assets as well as book value.
Pro Music Rights is one of the biggest music licensing companies in the world and it derives its revenues by licensing the music that it owns. In this context, it is perhaps important to note that not too long ago, the company had granted a license to its music to the video service platform TikTok. This license will allow millions of TikTok users to use music from Pro Music Rights in their videos.
