Yes, you make more money from buying new stocks, especially new stocks from a reputable company. Magic Empire Global limited (MEGL) has launched a new stock last week, at less than $5 IPO price per share.
In this article, we bring to you all you need to know about the MEGL stock, how you can buy it and MEGL expert price forecast.
What is MEGL Stock?
MEGL Stock is a financial instrument through the issue and subscription of shares of a company called Magic Empire Global Limited that engages in the provision of corporate finance advisory and financial security services.
The company offers sponsorship, independent financial advisory, compliance review and underwriting services. It was founded by Wai Ho Chan in May, 2016, with headquarters in Hong Kong.
Quite recently, on August 4, 2022 the company announced the pricing of its initial public offering of 5,000,000 ordinary shares at a price of $4.00 per share.
The ordinary shares have been approved for listing on The NASDAQ Exchange Market and are expected to commence trading on August 5, 2022 under the ticker symbol “MEGL.”
The total gross proceeds from this Offering before deducting underwriting discounts and other related expenses is $20 million. The Offering is expected to close on or about August 9, 2022, subject to the satisfaction of customary closing conditions.
Magic Empire Global Limited (MEGL) Business Direction
MEGL is known for providing financial services towards corporate financing, advisory services, and general financial guarantee services.
In the company’s Form F-1 disclosure filed with the United States Securities and Exchange Commission (SEC), its business direction is: IPO Sponsorship Services, Independent Financial Advisory, Compliance Advisory Services, and Underwriting Services.
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IPO Sponsorship Services provides sponsorship for companies that may want to engage in listing on the Hong Kong Stock Exchange by advising them through the listing processes in return for sponsorship fees.
Independent Financial Advisory provides professional advice to clients on the terms, nature and conditions of planned businesses. It also gives advice on compliance requirement as it relates to Hong Kong’s IPO regulatory structure.
Compliance Advisory Services provides guidance on legal framework and due process matters for publicly traded companies. Underwriting Services deals with all aspects of the IPO status for business enterprises seeking capital market entrance and serves as a global controller, book runner, underwriter or frontline manager.
MEGL IPO Date Update
We must understand that MEGL is an offshore holding company incorporated in the British Virgin Islands. The holding company itself has no physical operations but conducts its operations in Hong Kong through its operating subsidiary called GCL.
MEGL has finalized eight IPO projects acting as the sole sponsor for the listing clients. From 2020 to 2021, the MEGL had engaged in six IPO sponsorship contract and three underwriting assignments.
Investors partaking in this IPO are buying shares of the holding company, MEGL, not the operating entity in Hong Kong. Indeed, management explicitly states that retail investors may never directly hold any equity interest in our operating entity, GCL.
Upon filing confidentiality on Sept. 3, 2021, the company is listed to print its name on the IPO calendar on Aug. 5, 2022. Shares will trade on the NASDAQ exchange under the ticker symbol MEGL.
Magic planned to raise $23 million through the distribution of 5 million shares of stock valued at $4 and $5 per share and on the average the company would hit a market cap of $90 million.
There was a downwards review of the deal making the company to now plan to raise $20 million through the same number of shares distributed. The price target at IPO is now estimated at $4 per share, targeting a market cap of $80 million at the reviewed rate.
Is MEGL a Good Investment?
Given its $20 million revenue target and its projected market cap south of the $100 million mark, not very few analysts have made positive assessment of the MEGL’s IPO.
The stock has some positive signals in terms of business fundamentals. These include Economic and geopolitical dynamics surrounding China which may convey both the bull and bear situation for the financial services provider, MEGL.
Either by facilitating a client entity’s public market debut or participating in its own unveiling, the new listing segment comes with some risk which is convertible into trading prospects in the long term. The company’s exposure to China’s macroeconomic fundamentals may cast negative signal over its proceedings.
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MEGL is a good investment in view of the new market reality because with the federal regulators seeking greater accountability from Chinese firms listed in U.S. exchanges, it is highly likely that the subsequent resistance has many companies doing business in the world’s second-largest economy looking at the Hong Kong stock market as a viable alternative.
MEGL market valuation topped $4.7 billion at its intraday peak on August 5, despite the fact that the company only generated $2.1 million in revenue in 2021, according to its S-1 filed with the SEC. This is a good growth signal that supports the conclusion that is a good investment.
Is MEGL Good Buy Now?
It is safe to say that the new MEGL stock is a buy at the IPO value and will remain a buy in the long term due to its growth prospect.
The low price per share ($4) is less than $5 which is likely to attract both aggressive institution and retail investors. The perceived growth prospect of MEGL keeps it as a buy.
How you can Buy MEGL Stock: Easy-Step-By-Step Guide
Magic Empire Global stock (MEGL) has just arrived at the NASDAQ Exchange at $4 per share. Below is the step-by-step you must follow to buy it.
Step 1: Compare Share Trading Platforms
Use a comparison table of a reputable brokerage to help you find a platform that fits your financial goals. Then choose your preferred broker based on certain criteria and one that has access to the NASDAQ exchange.
Step 2: Open Your Brokerage Account
Complete the application form with your details and fulfill all necessary KYC requirements. The process last a few hours and sometimes two days depending on your broker’s protocol.
Step 3: Deposit Money to the Account, then Confirm your payment details
You will fund the trading account and confirm such funding through your broker.
Step 4: Research the stock
Find the stock by name or ticker symbol – MEGL – and research it before deciding if it is a good investment for you at the time.
Step 5: Purchase now or later
Buy your desired volume of stock with a market order or use a limit order to delay your purchase until the stock reaches a favourable price.
Step 6: Check in on your investment
Monitor your investment performance over time by checking or tracking your portfolio to guide your investment target.
MEGL Price Prediction -2022, 2023 -2030
At penworldgurus.com we use historical price-data to run multiple regressions and deploy ARIMA model for time series forecasting. Below are our findings, measured at 5% level of significance.
MEGL Stock Price prediction 2022
Our profound technical analysis on the IPO price data of MEGL showed that, by the end of 2022 the price of the new Stock is estimated to reach a minimum level of $4.46. The MEGL Stock price can reach a maximum level of $6.11 with the average trading price of $5.28.
MEGL Stock Price prediction 2023
The price of MEGL Stock is estimated to attain a minimum level of $5.28 in 2023. The MEGL Stock price can reach a maximum level of $9.71 with the average price of $7.49 throughout the year 2023.
MEGL Stock Price prediction 2024
In line with the forecast price from technical analysis, in 2024 the price of MEGL Stock is predicted to reach a minimum level of $8.09.
The MEGL Stock price can reach a maximum level of $14.60 with the average trading price of $11.34. The year 2024 will see the MEGL price moving bullish with significant price volatility.
MEGL Stock Price prediction 2025
The price of a share of MEGL Stock is expected to attain $12.56 minimum in 2025. The MEGL Stock price can reach a maximum level of $19.10 with the average price of $15.83 throughout the year 2025.
MEGL Stock Price prediction 2026
MEGL Stock price is projected to hit as low as $14.78 in 2026. Our estimation shows that the MEGL Stock price could reach a maximum possible level of $25.39 with the average forecast price of $20.00.
It is therefore expected that in 2026, the MEGL stock average price target will be $20.00 per share.
MEGL Stock Price prediction 2027
Our research findings from technical analysis on past price history of MEGL Stock shows a continuous steady rise in price.
Thus, in 2027 the price of MEGL Stock will dip to as low as $19.36. The MEGL Stock price value can reach a maximum of $30.52 with the average trading value of $24.94. High price volatility is expected in the year.
MEGL Stock Price prediction 2028
The price of MEGL Stock is predicted to reach a minimum value of $24.70 in 2028. It was estimated that the MEGL Stock price will hit a maximum value of $37.99 with the average trading price of $31.34 throughout the year 2028.
MEGL Stock Price prediction 2029
The MEGL Stock price is projected to reach lowest possible level of $30.58 in 2031. It is estimated that MEGL Stock price will hit a maximum level of $51.44 with the average forecast price of $41.01.
But this year will witness high volatility and upward swinging price, technical indicators look favourable.
MEGL Stock Price prediction 2030
The MEGL Stock price is estimated to reach lowest at $36.93 in 2032. Our technical estimation revealed that MEGL Stock price will hit a maximum level of $66.48 with the average forecast price of $51.70.
Therefore, the price of MEGL Stock is expected to hit about $50 per share, on the average, in the year 2030, that is, about eight years after the IPO of August 2022.
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