LZ Technology (NASDAQ:LZMH) Shares Up 12.7% - Still a Buy?

Key Points

• LZ Technology Holdings Limited shares surged 12.7%, closing at $2.93 after trading as high as $3.10 on Thursday.
• The company operates primarily through its Chinese subsidiaries, having 255 customers in 2023, up from 247 in 2022.
• The stock's 50-day simple moving average is notably high at $13.16, indicating a significant shift in trading dynamics.

LZ Technology Holdings Limited (NASDAQ:LZMH - ) rose 12.7% during trading on Thursday . The stock traded as high as $3.10 and last traded at $2.93. Approximately 494,824 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 586,026 shares. The stock had previously closed at $2.60.

LZ Technology Trading Up 44.6%

The business has a 50-day simple moving average of $13.16.

About LZ Technology

As a holding company with no material operations of its own, LZ Technology conducts its operations through its operating entities formed in the PRC, primarily Lianzhang Portal and its subsidiaries. For the years ended December 31, 2022 and 2023, the Company had a total of 247 and 255 customers, respectively, who entered into contracts with the Company to purchase the Company's products and services.

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