Pro Music Rights Inc (OTCMKTS:NUVG) Stock Gains Further Momentum

This past Friday there were a number of stocks that had managed to clock notable and one such stock was Pro Music Rights Inc (OTCMKTS:NUVG), which ended up with gains of as much as 8% for the day. It is one of the biggest music licensing companies in the world and last Thursday the company announced that it had made a submission to FINRA with regards to a change of name as well as a change to its ticker symbol. In this context, it may be a good move for investors to have a better understanding of Pro Music Rights as a company.

Trading Data

On Friday, NUVG stock rose 7.72% to $0.0814 with more than 34.96K shares, compared to its average volume of 384.38K shares. The stock moved within a range of $0.0683 – 0.0814 after opening trading at $0.0683.

Pro Music Rights (OTC:NUVG) One of the World’s Largest Music Licensing Companies, Announces That It Has Submitted a Request to FINRA To Change Its Name and Symbol

It should be noted that it is only the 5th public performance rights organization to have ever been formed in the United States and its licensee include some of the biggest names in the business.

Back on August 23, the company announced its financial results for the second fiscal quarter that ended on June 30, 2022. The company’s assets at the end of the quarter stood at $432,579,903 and that reflected a significant year-on-year rise from the asset valuation of $323,562,671 at the end of the fiscal year in 2021.

Technical Data

NUVG stock is trading above the 20-Day and 50-Day Moving averages of $0.0837 and $0.0676 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0298. The company has a total market capitalization of $290 million. The stock is down 28% over the past month.