- Marygold Enterprises (MGLD) the stock is now available for trading on the American NYSE to exchange.
- Stocks are still quite affordable, Marygold Companies has some intriguing subsidiaries under its umbrella.
- Investors should consider a moderate stake in stocks while they are still cheap.
Based in San Clemente, California, Marygold Enterprises (NYSEAMERICAN:MGLD) can be described as a diversified global holding company. As we’ll find out, with MGLD stocks, you can dive into not just one company, but half a dozen of them.
InvestorPlace contributor William White reported that the stock gained more than 147% in a single trading session not too long ago. Clearly, there’s something going on here that deserves closer inspection.
Another contributor to InvestorPlace, Chris MacDonald, provided more details on what happened with MGLD shares. We’re going to dig even deeper today detailing Marygold’s subsidiaries.
Plus, we’re going to dig into the parent company’s tax numbers, which won’t disappoint potential investors. In the final analysis, you may find that you have struck gold with Marygold.
What’s going on with MGLD shares?
So, let’s start with the big news. First, Marygold Companies is the new corporate name of Concierge Technologies. Still, there’s more to this story than just a name change.
The company used to trade under the ticker symbol CNGC. This stock traded on OTC Pink to exchange. This exchange has no disclosure requirements, so some investors are reluctant to get involved.
Getting on a well-respected exchange is a huge deal for any company. This is precisely what happened with Concierge Technologies/Marygold Companies since the shares of the company are now listed on the American stock exchange NYSE, under the symbol MGLD.
On top of all that, Marygold announced an underwritten public offering to sell 1.65 million shares at $2 each. As MacDonald explained, this $3.3 million offering “will provide funds that the company intends to use for general corporate purposes.”
So, we have a major capital injection, a name change, and a newly listed stock with a different ticker symbol. There’s a lot going on with Marygold, but what is this company all about, exactly?
A pack of six companies
MGLD shares only cost a few dollars and some change, but don’t get me wrong. You will actually get great diversification if you invest in Marygold.
First, there are three US-based subsidiaries:
- Wainwright Holdings, which is associated with companies that work with exchange-traded funds organized as limited partnerships or investment trusts.
- Fintech company Marygold & Co.
- Kahnalytics, which distributes Original Sprout hair and skin care products.
Then there are three non-US based subsidiaries:
- Gourmet Foods, based in New Zealand, manufactures and distributes meat pies, and has its own subsidiary which prints specialist packaging for the food industry.
- Canadian seller and installer of commercial and residential alarm monitoring systems, Brigadier Security Systems.
- Marygold & Co. (UK) Limited, which is based in the United Kingdom and operates as a holding company for acquisitions to be made in this region.
Financially, Marygold Companies/Concierge Technologies remained strong. The company has a strong balance sheet, with total assets of $30,876,434 as of December 31, 2021.
Additionally, the company’s consolidated revenue totaled $14,105,454 in the first half of fiscal 2022, which isn’t too shabby in times of global supply shortages.
What You Can Do Now With MGLD Stock
MGLD stock has the potential to trade higher than a few dollars and change.
Listing on a major stock exchange is significant and could attract investor interest in Marygold Companies. Additionally, the company has received a significant injection of capital from its public offering, which could help expand Marygold’s various businesses.
There are always risks involved in new or renowned business ventures. Nonetheless, MGLD stock appears to offer strong upside potential, as well as instant sector diversification for investors. I give MGLD stock a “B” in my portfolio binder.
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Read more: Penny Stocks – How To Profit Without Getting Scammed
As of the date of publication, neither Louis Navellier nor the member of the InvestorPlace research staff principally responsible for this article holds (directly or indirectly) any position in the securities mentioned in this article.
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