MI Stock Summary and Trading Ideas (NFT Limited Class A Ordinary Share | AMEX:MI)

NFT Ltd Formerly Takung Art Co Ltd operates an online electronic platform for offering and trading artwork. Through its platform, the company allows artists/art dealers/owners to access a much bigger art trading market where artists can engage with a wide range of investors. Its platform also invests in high-end artwork accessible to ordinary people without financial resources. The company's trading platforms comprise the sale of calligraphies and paintings, jewelry, and precious stones. It generates revenue in the form of services in connection with the offering and trading of artwork on its system, consisting of listing fees, trading commissions, and management fees.

NFT Limited Class A Ordinary Share trades on the AMEX stock market under the symbol MI.

As of December 13, 2024, MI stock price declined to $4.30 with 9,383 million shares trading.

MI has a beta of 5.05, meaning it tends to be more sensitive to market movements. MI has a correlation of 0.15 to the broad based SPY ETF.

MI has a market cap of $13.29 million. This is considered a Sub-Micro Cap stock.

MI has underperformed the market in the last year with a return of -43.6%, while the SPY ETF gained +29.9%. In the last 3 month period, MI fell short of the market, returning -36.4%, while SPY returned +7.8%. However, in the most recent 2 weeks MI has outperformed the stock market by returning +1.4%, while SPY returned +0.3%.

MI support price is $3.93 and resistance is $5.07 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MI shares will trade within this expected range on the day.