MDJM (MDJH) Stock: Why The Price Surged Today

By Amit Chowdhry ● Feb 2, 2022
  • The stock price of MDJM Ltd (NASDAQ: MDJH) increased by over 55% pre-market today. This is why it happened.

The stock price of MDJM Ltd (NASDAQ: MDJH) increased by over 55% pre-market today. There are no company-specific reports driving up the stock price so it appears there are external factors at play.

In this case, it appears that investors who are active on social media platforms like Discord, Twitter, StockTwits, etc. are driving up the momentum. The investors on these platforms are citing the extremely low float as an opportunity for driving the momentum. 

“On January 27, 2022, the last reported sale price of our Ordinary Shares on Nasdaq was $1.83 per share. The aggregate market value of our outstanding Ordinary Shares held by non-affiliates, or public float, as of January 28, 2022, was approximately $4.37 million, which was calculated based on 1,455,216 Ordinary Shares held by non-affiliates and the price of $3.00 per share, which was the closing price of our Ordinary Shares on Nasdaq on December 1, 2021,” says a company filing cited by investors on those platforms.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.