QMMM (NASDAQ:QMMM) Trading Down 5.8% - Here's Why

Key Points

• QMMM Holdings Limited experienced a significant drop in stock price, falling by 5.8% during trading, with shares last trading at $99.52.
• Trading volume was notably low, with approximately 59,424 shares traded, a decline of 98% from its average daily volume.
• Despite the stock decline, Wall Street analysts have upgraded QMMM from a "sell" rating to a "hold" rating, indicating potential for future growth.

QMMM Holdings Limited (NASDAQ:QMMM - Get Free Report) shares traded down 5.8% during mid-day trading on Thursday . The company traded as low as $95.00 and last traded at $99.52. 59,424 shares traded hands during trading, a decline of 98% from the average session volume of 2,426,249 shares. The stock had previously closed at $105.64.

Wall Street Analysts Forecast Growth

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

QMMM Trading Up 27.8%

The company's fifty day simple moving average is $20.97 and its two-hundred day simple moving average is $8.05.

QMMM Company Profile

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.