One of the stocks which may get some attention from investors this morning is that of Major League Football Inc (OTCMKTS:MLFB). Following a key announcement from the company on Wednesday, the Major League Football came into sharp focus among investors and ended up with gains of as much as 19%.
Trading Data
On Wednesday, MLFB stock up 18.75% to $0.0019 with more than 47.16 million shares, compared to volume of 25.70 million shares. The stock moved within a range of $0.0017 – 0.0023 after opening trade at $0.0017.
Major League Football Executes Two Stock Equity Purchase Agreements Totaling $5,000,000
The company announced yesterday that it had been successful in completing a pair of stock equity purchase agreements, which netted $5 million in total. One of those agreements was with the New York City based firm Alumni Capital LP, which raised $2.5 million. Another deal of a similar nature was completed with Janbella Group LLC, which brought in an identical amount.
The raising of fresh capital led to a wave of optimism with regards to the Major League Football stock and the rally that was seen yesterday, was perhaps not a surprise. It now remains to be seen if the Major League Football stock can manage to hold on to its momentum and add to its gains over the course of the coming days or not. The company’s counsel is currently working on the registration statements, which are then going to be filed with the SEC.
Key Quote
“We’ve been involved with Major League Football for a while now and are now doubling down on our investment thesis. With the proper capital infusion, the company will be in an advantageous position and make its way towards a solidified and efficient season in 2023.” commented Ashkan Mapar, Portfolio Manager of Alumni Capital.
Technical Data
MLFB stock is trading above the 20-Day and 50-Day Moving averages of $0.0017 and $0.0018 respectively. However, the stock is trading below the 200-Day moving average of $0.0191. The company has a total market capitalization of $1.15 million.
