Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Down - Here's What Happened

Key Points

• Mitsubishi Electric shares experienced a significant drop, gapping down from a previous close of $22.76 to open at $20.95, marking a decline of 7.9%.
• The company's current market capitalization stands at $44.98 billion, with a price-to-earnings (PE) ratio of 22.29.
• Mitsubishi Electric operates across five segments, producing a wide range of products including power equipment, communication systems, and security solutions.

Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $22.76, but opened at $20.95. Mitsubishi Electric shares last traded at $20.95, with a volume of 639 shares.

Mitsubishi Electric Price Performance

The firm has a market cap of $47.51 billion, a PE ratio of 23.54 and a beta of 0.63. The stock's fifty day moving average price is $21.13 and its 200-day moving average price is $18.93.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through five segments: Infrastructure, Industry Mobility, Life, Business Platform, and Other Businesses. It offers turbine generators, nuclear power plant and power electronics equipment, motors, transformers, circuit breakers, gas insulated switchgears, switch controls, surveillance-system control and security systems, transmission and distribution ICT systems, large display devices, locomotive and rolling stock electrical equipment, wireless and wired communications systems, network camera systems, elevators, escalators, building security and management systems, and others.