Why Shares of Magic Global Empire Limited Continue to Trade With Volatility

·1 min read

Shares of the Hong Kong-based investment bank Magic Empire Global Limited (NASDAQ: MEGL) traded as much as 25% higher in pre-market trading today before giving up most of those gains as the wild trading volatility on the stock continued. Since going public last Friday, Magic Empire has been on a wild ride. Magic Empire is a fairly small company and only sold about 5 million shares in its initial public offering (IPO) for a total amount of $20 million.