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The latest update is out from MMTec ( (MTC) ).
MMTec, Inc. reported a complete drop in revenue and gross profit for the first half of 2024 following the disposal of its insurance agency business, Alpha Mind Technology Limited, at the end of 2023. The company incurred a significant net loss attributed to a substantial allowance for expected credit losses on notes receivable, highlighting a challenging financial period marked by strategic shifts toward investment banking and adjustments in operational expenses.
More about MMTec
MMTec, Inc. operates within the financial services industry, focusing on investment banking services, having previously been involved in insurance agency and technology services through its subsidiary Alpha Mind Technology Limited.
YTD Price Performance: -75.90%
Average Trading Volume: 6,108,687
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $48.01M
For detailed information about MTC stock, go to TipRanks’ Stock Analysis page.
