MySize (MYSZ) Stock: Why The Price Surged Over 35% Today

By Amit Chowdhry ● May 13, 2022
  • The stock price of MySize, Inc. (NASDAQ: MYSZ) surged by over 35% during intraday trading today. This is why.

The stock price of MySize, Inc. (NASDAQ: MYSZ) surged by over 35% during intraday trading today. Investors are responding positively to the company’s financial and operational results for the first quarter ended March 31, 2022.

These were the key financial highlights for the first quarter ended March 31, 2022, compared to the prior-year period:

— Revenue increased 1400% to $404,000, primarily attributable to closing the acquisition of Orgad on February 7, 2022

— MySizeID revenue increased 63% to $44,000

— Gross profit increased 467% to $153,000

— Cash balance at March 31, 2022 of $7.8 million

— Inventory balance at March 31, 2022 of $1.1 million

— Operating loss increased 39% to $2,105,000

— Net loss increased 50% to $2,188,000

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