ECMOHO Ltd. (MOHO), an investment holding company, has surged 17.86% in aftermarket trading session. Consequently, the stock was trading at $0.33 when last checked. During Thursday’s regular trading session, the stock gained an increase of 3.86% to close the day at $0.28. The surge has arrived in the wake of the approval of the transfer.
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Approval for Listing Transfer
On Thursday, MOHO announced that the listing qualifications department of NASDAQ has approved the company’s request for the transfer of the listing of the company ADSs from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer became effective at the opening of the market on Thursday. The ADSs of the company would continue to be traded under the ticker symbol of MOHO.
MOHO to Increase Marketing Efforts
On the 14th of February, MOHO announced the increase in digital marketing efforts for achieving continuous positive results in the marketing domain. The company has entered into partnerships with several of the startups for building the brands as well as increasing the value of the customer base. The company recently participated in Douyin which has provided it with opportunities to disseminate health information.
Change in Board of Directors
On the 6th of December, MOHO announced a transition in its Board of Directors. The company appointed Mr. Yuan Fang as an independent director. His appointment came in the wake of his resignation by Mr. Greg Ye. The resignation became effective from the 1st of December 2021. The company said that the resignation from Mr. Greg Ye was not due to any disagreements with the company, but rather, it was purely due to personal reasons. Mr. Yuan has an experience of more than 10 years in venture capital investment and investment banking.
What’s Coming Up for MOHO?
Looking ahead, analysts are holding a positive evaluation of MOHO stock. The short-term technical signals are pointing in an optimist direction for the stock. Hence, at the current level, the stock holds an excellent buying opportunity for investors.
