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MCOM Stock – Sympathetic Resonance on the Horizon

MCOM Stock

Recently, Inc.’s (Nasdaq: MCOM) CEO Salvatore Palella announced his intention to draft a letter for shareholders inspired by Mullen Automotive, Inc.’s (Nasdaq: MULN) CEO David Michery. After Michery’s letter, MULN stock soared by as much as 107% and MCOM stock could have a similar run considering its history of parabolic runs. For this reason, the stock could be an extremely profitable swing trade in the coming weeks.

MCOM Stock News

MULN’s CEO David Michery recently wrote a letter to his company’s shareholders concerning his grievances regarding the stock’s performance and shareholder behavior. Oddly enough, MULN stock soared 107% in response. That said, MCOM CEO Salvatore Palella, is currently seizing the moment by drafting a letter that is inspired by the one written by Michery in hopes of capitalizing on MULN’s run. 

MULN's latest run

It is worth noting that the possibility of Palella’s pending letter causing the stock to surge is exceptionally high due to MCOM’s history of sporadic runs. Under the stock’s current circumstances, investors are likely to be enticed to trade the stock which means that its PPS could receive a massive boost in the coming weeks. 

MCOM's previous runs

While a swing trade may be beneficial, holding the stock for too long could prove to be a risky decision. Although MCOM is known for its sporadic runs, it is also known for its dilutive activities which is why trading the stock for a quick profit may be the best course of action. 

MCOM Stock Financials

According to the company’s Q2 2023 report, its assets decreased from $41.1 million to $11.9 million due to losing $13 million in goodwill. On the other end of the balance sheet, liabilities decreased from $80 million to $69.7 million with short-term liabilities decreasing from $33.2 million to $25.1 million. 

When it comes to revenue, the company experienced a YoY decrease from $4.3 million to $3.4 million. Expenses on the other hand, significantly increased from $20.7 million to $35.8 million due to $16.4 million worth of asset impairment. In turn, the company’s net loss increased from $19.7 million to $34.2 million.

Media Sentiment

@greatstockpicks is anticipating MCOM’s shareholders’ letter.

@TrySmallBiz has been adding MCOM stock ahead of the shareholders’ letter.

Technical Analysis 

MCOM stock chart

MCOM stock is in a neutral trend with the stock trading in a sideways channel between $0.06 and $0.0784. Looking at the indicators, the stock is currently trading above the 200, 50 and 21 MAs which is a bullish sign. Meanwhile, the RSI is neutral at 63 and the MACD is curling bearishly.

MCOM stock chart

As for the fundamentals, Palella’s revelation regarding his anticipated shareholders’ letter inspired by Micher’s letter is a major catalyst for the stock as it could be a sympathy play to MULN stock. That said, the stock recently failed to break resistance, so investors could wait for a successful break of resistance with a pullback to enter long positions ahead of Palella’s shareholders’ letter.

MCOM Stock Forecast 

With Palella in the process of drafting a letter similar to the one written by Michery, MCOM stock could run once the letter is shared. That said, it is worth noting that the stock recently ran 20% in anticipation so it could be a wise decision to wait for the stock to cool down before entering a long position. Despite the stock’s potential to run on the anticipated shareholders’ letter, investors should note that the company has a history of diluting its shareholders which makes the stock an extremely risky investment.

If you have questions about MCOM Stock and where it could be heading next feel free to reach out to us in our free alerts room!


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