Magazine Luiza (OTC:MGLUY) Stock Price Down 6.9% – Here’s Why

Shares of Magazine Luiza S.A. (OTC:MGLUY) traded down 6.9% on Thursday . The company traded as low as $7.94 and last traded at $7.94. 300 shares changed hands during trading, a decline of 22% from the average session volume of 387 shares. The stock had previously closed at $8.53.

Magazine Luiza Stock Down 6.9%

The company has a fifty day simple moving average of $6.95 and a 200 day simple moving average of $6.59.

About Magazine Luiza

Magazine Luiza SA engages in the retail sale of consumer goods. It operates through Retail, Financial Operations, Insurance Operations, and Other Services segments. The company also grants credit and provides extended warranties for its products. In addition, it is involved in the provision of consortium and management services; and e-commerce of perfumes, cosmetics, sports, and fashion products, as well as product delivery management and software development services. Further, the company provides integration, logistics, and technological solutions, as well as resale goods and provision of services in the stores, electronic and food delivery management platform.