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Dragon Victory International Limited (LYL) stock soared in the after-hours trading session; here’s what is recently happening

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Dragon Victory International Limited (LYL) shares have risen by 37.32% at the current price of $1.95 in the after-market, at the time of writing. LYL stock closed the Monday trading session at $1.42 which is a -7.79% loss. The stock volume traded was 1.86 million shares which is higher than the average daily volume of the past 50 days. LYL shares have risen by 42.00% over the last 12 months, and they have moved down by -10.13% in the past week. Over the past three months, the stock has lost -47.79%, while over the past six months, it has added 30.28%. Further, the company has a current market of $16.97 million and its outstanding shares stood at 11.42 million.

Dragon Victory’s company insight

Dragon Victory International Limited is a company that is based in China and is specifically engaged in the business of reward-based crowdfunding platform. The operation principally allows the provision of incubation and financial services to individuals and business institutes that are in need of funding. The funding is done through this crowdfunding platform known as 5etou – you can visit the website @ www.5etou.cn. This platform is designed to allow entrepreneurial activities of all sizes – small and medium sized companies, incubator ideas and start-ups – to raise funding from investors on the internet. LYL stock also provides these entrepreneurs and business entities business incubation services and guidance expertise which can again be done through utilization of their e-crowdfunding platform.

Radio silence for more than 6 months

Dragon Victory International Limited (LYL stock) has been non-active on the media platforms regarding its operational activities or any recent updates. Since the second quarter of 2020, there had been no active updates or progress related Press Release on LYL stock. LYL stock-wise, there had been low trade with its Year-To-Date performance being-39.32%. Furthermore, there had been exceptions in the trade performance within the past 5 months due to the army of redditors and retail-investors investing heavily in shorted stocks in December, January and then again recent hype on Twitter, Reddit, and Discord platform in February. This caused volatility in the stock price and the prices went to the moon in the previous-mentioned months.

What caused the recent volatilities in the stock price?

The recent climb of LYL stock price happened on 19th February when the price climbed to $3.78 after which hype on stock Twitter and Reddit around the short-squeeze play was spread around upon which investors acted. The same act happened in December when a Twitter account by the name @Mitch_Picks claimed to have interpreted the intention behind the LYL stock movement and the stock jumped more than 50% after which the account was blocked by Twitter.

The LYL stock may see volatility again in the future due to Dragon Victory having a one-stop services auto repair shops that engage with auto-parts suppliers. The service had been upgraded by using blockchain for transactions so the involvement of cryptocurrency and its volatility can resonate with the stock itself.

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