QMMM (NASDAQ:QMMM) Stock Price Up 24.3% - Here's Why

Key Points

• QMMM Holdings Limited's shares surged 24.3% on Monday, reaching a high of $102.00 and closing at $103.01.
• The stock is experiencing a significant drop in trading volume, with approximately 148,533 shares traded, down 94% from its average daily volume.
• Wall Street analysts have downgraded QMMM from a "hold" rating to a "sell" rating, indicating a negative outlook for the stock.

QMMM Holdings Limited (NASDAQ:QMMM - Get Free Report) shares shot up 24.3% during mid-day trading on Monday . The company traded as high as $102.00 and last traded at $103.01. 148,533 shares changed hands during trading, a decline of 94% from the average session volume of 2,403,198 shares. The stock had previously closed at $82.84.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of QMMM from a "hold" rating to a "sell" rating in a research note on Sunday.

QMMM Stock Down 2.7%

The stock's 50 day moving average is $23.05 and its two-hundred day moving average is $8.78.

About QMMM

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands.