Magellan Financial Group (OTCMKTS:MGLLF) Trading 4,210,652.2% Higher – Here’s What Happened

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

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut Magellan Financial Group to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Magellan Financial Group presently has an average rating of “Sell”.

Magellan Financial Group Stock Performance

The stock’s fifty day moving average price is C$4,301.24 and its two-hundred day moving average price is C$1,508.09.

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.