HK's Magic Empire extends rally after stellar debut

Magic Empire Global

08/08/2022 11:12

** Shares of Magic Empire Global  MEGL.O  soar 81% to
$186.57 premarket
    ** Stock surges the most across U.S. exchanges as of 5:55
a.m. ET
    ** The Hong Kong-based financial services company ended with
a market cap of $1.94 bln in its Friday debut, more than that of
robotic vacuum cleaner maker iRobot Corp  IRBT.O  which entered
a deal to be bought by Amazon.com  AMZN.O  last week
 urn:newsml:reuters.com:*:nL4N2ZH3CW
    ** The company generated $2.2 mln in revenue for year-ended
December 2021 - filing  urn:newsml:reuters.com:*:nL1N2ZH2D3
    ** MEGL ticker was trending on retail investor-focused
stocktwits.com
    ** At current levels, stock up 4,564.25% from $4 IPO price

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))