Tuesday, October 27, 2020

Medigus Stock Escalates 100% After Its Equity Stake Firm Gains Amazon’s Approval for Launch in 5 Countries

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Medigus is the leading company today with the highest trading volume of 174 million beating Apple by almost 5 million.

Shares of Medigus Ltd. (MDGS) skyrocketed above 100% in today’s trading session followed by the announcement of Amazon’s approval for Smart Repair Pro, Inc., a company in which Medigus owns a 51.01% equity stake, to open its stores across five leading countries including, UK, Italy, France, Spain, and Germany.

Medigus is a technology firm working on different advanced medical solutions and innovative internet technologies. Recently, it announced its entry in the e-commerce business, when last week the company signed a definitive agreement to acquire a controlling interest in Smart Repair Pro, Inc. and Purex, Inc. The closing of the transactions is highlighted in the definitive agreements which are subject to customary closing conditions.

The company owns 50.01% of the issued and outstanding share capital of both Smart Repair Pro and Purex.

Smart Repair Pro is a data-driven e-commerce company operating on the Amazon Marketplace and it has just received Amazon’s approval to open its retail stores across five countries that will boost its sales in the European and UK market where it will be launching its brand for the first time.

At the moment, Smart Repair Pro and Purex are managing three successful brands on Amazon Marketplace. As per the initial information provided to Medigus, both the companies will obtain around $3 million in revenues with almost 35% of net profit for 2020.

The recent progress of Medigus and its investment in Smart Repair Pro and Purex has been handy for the stock to become the leading in today’s market surpassing Apple, Inc. in trading volume. The trading volume of MDGS has risen up to 174 million, whereas, Apple trades with a volume of 169 million.

At the time of press, Medigus Ltd. (MDGS) was trading at $3.03 up by 60%. The shares of Medigus has surged as high as $3.89 almost double to its prior closing price of $1.89.

Medigus has surged 72% over the last 12 months as per ADR representation. InvestorsObserver’s proprietary ranking system gives MDGS stock a score of 21 out of a possible 100.

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