Stock Alert: Medigus Jumps 25%

By RTTNews Staff Write  ✉   | Published:

Shares of nano-cap company Medigus Ltd. (MDGS) gained over 25% on Friday morning. The company said it agreed to acquire a controlling interest of two companies which operate as sellers of three brands on Amazon Marketplace.

MDGS is currently trading at $1.91, up $0.39 or 25.6579%, on the Nasdaq.

Medigus agreed to buy a controlling interest in Smart Repair Pro, Inc. and Purex, Inc., two data-driven e-commerce companies, operating on the Amazon Marketplace.

According to the agreement, Medigus will hold 50.01% stake in each of the companies, acquired through a combination of a cash investment in the companies, and an acquisition of additional shares from the companies' current shareholders.

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