Site icon Market Globalist

Dragon Victory International Limited (LYL) stock plunged in the premarket trading session; here’s why

Business Focus

In the premarket trading session, Dragon Victory International Limited shares have plunged by -1.57% to the price of $1.25 at the time of writing. LYL stock previously closed the trading session at $1.30 which is a 4.00% gain. The stock volume traded 0.6 million shares. In the past year, up-to-date LYL stock has surged by 32.17% and in the past week, they have jumped by 10.17%. In the past three and six months, the stock plunged by -34.67% and -68.37% respectively. Dragon Victory International Limited is currently valued in the market at $14.68 million and has 11.42 million outstanding shares.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Here’s all that you need to know about Dragon Victory International Limited

Dragon Victory International Limited is an organization that is situated in China and is focused on providing businesses and companies a platform for award-based crowdfunding. The activity permits the arrangement of startup incubations and financial loans to people and business organizations that require capital. The financing is done through this crowdfunding stage known as 5etou. This stage is intended for every company size ranging from startups, SMEs to large enterprises for crowdfunding from interested online investors. LYL stock likewise provides consultation for incubations and startups as well as financial service consultations to entrepreneurs and business entities.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


  Read More

Shares drop as company’s operational activities are in the dark

The company has not corresponded to any news about recent partnerships or operational activities regarding its services. This does not help the image of the company in the eyes of the investors who look for long-term investment based on the company’s recent operational and balance-sheet activities. The company’s last news was 7 months ago regarding the regaining of compliance with NASDAQ after achieving the minimum bid price requirement. The year-to-date performance of the company has been in the negative and the trading volume has been dropping.

Dragon Victory has however been hyped in the previous month by activities from the day-traders. This was because traders rely on the technical analysis for their trade usually does it for the short term and have somewhat different metrics to focus on compared to long-term investors. The metric that specifically attracted the day-traders is the company’s miniscule public float; around 10-11 million shares. This caused the trade-based pages on social media channels to blow up with news of the LYL stock’s bullish patterns and raise the value of the stock in April.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

The bottom line

However, the hype has pulled back now as the trade volume has returned in this month to below 1 million shares and the price has dropped from $1.9-$1.7 per share to $1.3-$1.20 in the past month.  Traders should be aware of the volatility in LYL stock due to no recent news as well as the speculation that the company is going to enter the cryptocurrency market by bringing it to its portfolio.  The rumors and technical analysis seem to point towards growth however the nature of this news itself is volatile so sharp oscillations in the company’s trade pattern may not be surprising in the future.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Exit mobile version