MGO (US:MGOL) investorplace.com·2024-05-21 12:13Core Viewpoint - MGO Global's stock surged significantly following the release of its Q1 2024 earnings report, indicating strong market interest and investor confidence despite ongoing operational losses [1][3]. Financial Performance - The company reported a diluted earnings per share (EPS) of -1 cent, an improvement from -9 cents in the same quarter last year [1]. - MGO Global's revenue for Q1 2024 was $670,264, a substantial increase from $45,147 reported in Q1 2023 [2]. - The operating loss for the quarter was $1.86 million, which is a significant increase compared to the operating loss of $692,506 from the previous year [2]. Stock Movement - MGO Global's stock price increased by 105.5% as of Tuesday morning, with over 21 million shares traded, far exceeding the average daily trading volume of approximately 233,000 shares [3]. - Prior to the earnings report, MGOL shares had decreased by 51.1% year-to-date [3].