QMMM (NASDAQ:QMMM) Stock Price Up 19.4% – Here’s Why

Shares of QMMM Holdings Limited (NASDAQ:QMMM) rose 19.4% on Wednesday . The stock traded as high as $119.40 and last traded at $119.40. Approximately 773,300 shares changed hands during trading, a decline of 67% from the average daily volume of 2,364,426 shares. The stock had previously closed at $100.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of QMMM in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

QMMM Stock Performance

The firm has a 50-day simple moving average of $119.40 and a 200 day simple moving average of $119.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QMMM. Bank of America Corp DE acquired a new position in shares of QMMM in the third quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of QMMM in the third quarter valued at approximately $72,000. BNP Paribas Financial Markets acquired a new position in shares of QMMM in the third quarter valued at approximately $169,000. Susquehanna International Group LLP acquired a new position in shares of QMMM in the third quarter valued at approximately $229,000. Finally, Sage Mountain Advisors LLC acquired a new position in shares of QMMM in the third quarter valued at approximately $272,000.

About QMMM

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands. The company was founded by Bun Kwai on July 29, 2022 and is headquartered in Hong Kong.