Magellan Financial Group (OTCMKTS:MGLLF) Trading Up 4,210,652.2% – Time to Buy?

Magellan Financial Group Limited (OTCMKTS:MGLLF)’s share price was up 4,210,652.2% on Friday . The stock traded as high as C$214,748.36 and last traded at C$214,748.36. Approximately 19,073,055 shares traded hands during trading, an increase of 19,072,955% from the average daily volume of 100 shares. The stock had previously closed at C$5.10.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group downgraded shares of Magellan Financial Group to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Magellan Financial Group Price Performance

The business has a 50 day simple moving average of C$4,301.24 and a 200-day simple moving average of C$1,497.66.

About Magellan Financial Group

Magellan Financial Group Ltd is a global investment manager headquartered in Sydney, Australia. Founded in 2006 by Hamish Douglass and Chris Mackay, the firm offers a range of investment strategies focused on high-quality global equities and listed infrastructure assets. Magellan’s core business activities include the management of funds and mandates for retail, wholesale and institutional clients, with an emphasis on capital preservation and long-term value creation.

The company’s flagship products include its Global Fund, which targets established companies with sustainable competitive advantages, and its Infrastructure Fund, which invests in essential global infrastructure businesses such as utilities, transportation and toll roads.