BIMI International Medical Inc. (BIMI) stock falling today, Here is why?

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The BIMI International Medical Inc. (BIMI) stock value was $0.88 at the last check today, which is an 8.99% loss from the last closed value. When the last trading session ended the stock closed at $0.97. The average volume of stock traded in the trading session was around 16.13M.

Reason for the stock gaining value

BIMI International Medical Inc. (BIMI) recently announced its unaudited financial statements for the 3rd quarter of 2021. This could be linked to the stock catching the interest of the investors which ultimately resulted in a slight increase in their stock value.

BIMI Stock: The Unaudited Financial Highlights of 3rd Quarter

  • The revenues of the company increased by 345% in this quarter as compared to the same quarter of last year. This year’s quarterly revenue was reported to be $13.78 million, while the revenue in the same quarter of the last year was approx.$3.09 million.
  • The gross profit was also increased by a significant number. It was reported by an increase of 688.7%. This year’s 3rd quarter gross profit was $2.02 million while the gross profit in the 3rd quarter of last year was $257,278.
  • The net loss of the company was $1.70 million in the 3rd quarter of 2021.
  • The company had cash and working capital of $209,803 and $2.12 million respectively.

Effect of the income statement on BIMI Stock

Although, No major plans or developments have been announced by the company for its recent future. But its 3rd quarter report positively affected the stock of BIMI. The investors were seen to take interest in its stock after the positive trend of BIMI International Medical Inc. (BIMI) stock after the company announced their unaudited financial statement for the 3rd quarter of 2021. The main reason could be taken as its massive increase in the revenue and gross profit which reported to increase of 345% and 688.7%, respectively.

Conclusion

The company expects that its revenues would increase in the 4th quarter of this year. Investors should really keep in mind the growth rate of the company which is a massive number. This could benefit investors who looking for a gain in the long run.

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