HomeTop MoversWhy did ECMOHO Limited (MOHO) stock have a good Friday?

Why did ECMOHO Limited (MOHO) stock have a good Friday?

ECMOHO Limited (MOHO) shares soared 7.15% in after-hours on Friday, November 19, 2021, and closed the weekly trading at $0.61. Even in the regular trading session, MOHO’s stock gained 3.44%. The stock volume remained 0.3 million shares, which was lower than the average daily volume of 1.83 million shares within the past 50 days. MOHO shares have fallen by 59.31% over the last 12 months, and they have moved down 6.21% in the past week. Over the past three months, the stock has lost 10.41%, while over the past six months, it has declined 68.39%. The company has a current market of $25.50 million and its outstanding shares stood at 35.54 million.

Let’s see what’s going on with the company?

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MOHO partnership with Bausch + Lomb

On October 21, 2021, ECMOHO Limited (MOHO) signed a strategic cooperation agreement with the renowned U.S. vision care brand Bausch + Lomb to promote and sell its products and services on the Chinese e-commerce website Pinduoduo. ECMOHO provide consumer and Chinese family with high-quality eye care products and family health solution to satisfy the rising demand for eye health.

Bausch + Lomb is a global innovation leader who sets the quality standards in this field, for more than 160 years.

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MOHO Delisting warning from Nasdaq

On September 21, 2021, ECMOHO Limited (MOHO) received a notification letter dated September 16, 2021, from the Listing Qualifications Department of The Nasdaq Stock Market Inc. stating that the Company is no longer in compliance with the minimum bid price requirement outlined in Rule 5450(a)(1) of the Nasdaq Listing Rules as the Company’s closing bid price per American depositary share, has been below US$1.00 for a period of 30 consecutive business days. The Nasdaq notification letter does not result in the immediate delisting of the Company’s securities.

MOHO resent financial results

On August 31, 2021, ECMOHO Limited (MOHO) announced its unaudited financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • MOHO reported total revenue of $42.8 million in Q2 2021, as compared to $100.5 million in Q2 2020.
  • The total cost of revenue was 4 million in Q2 2021 compared to $83.2 million in the same quarter of last year.
  • The gross margin was 19.6%, as compared to 17.2% in Q2 2020.
  • Total operating expenses were $12.3 million compared to $20.5 million in Q2 2020.
  • It suffered a net loss of $3.6 million in Q2 2021 compared to a net loss of US$4.5 million in the same quarter of last year.

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Well, we have no recent news whatsoever which could be linked with its good performance on Friday. We hope that it will continue its momentum after the weekend as well.

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