MEGL Magic Empire Global Ltd

$MEGL I'd keep watch and see how low this goes. Being forced down on low volume after offering. Given the offering is 9x cashless than the 1.12 shares, they still have some very cheap shares (this would be a cost basis close to around 0.12). They also issued 40M shares and 20M shares around the same price (0.16 and 0.25) which contain no lock-ups. All of these shares were issued after they approved of a RS as well, which is typical of these pump and dumps before they run. Oh and they also have a big ATM to dump shares. Another interesting thing to note is that it seemed like they were originally going to do a 15M shares offering at .54 with Revere Securities last year around this time, but filed a RW recently to cancel it, then they came out with these offerings. Seems like they wanted to issue more shares.

$MEGL The $3M gives the company more runway. If it uses that money well, growth could outweigh the dilution. Small companies often raise money like this to stay afloat, though, and it's usually read as a warning sign. So the short-term risk is to the downside. long-term outcome depends on what the company does with the cash and how many warrants get exercised.