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Tuesday, December 1, 2020

Urban Tea Inc. (NASDAQ:MYT) Finding Zero Support

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Urban Tea Inc. (MYT) shares are trading at lower $0.28.

To add more color to this target, the company’s high over the last year is $1.46 and the low is $0.26. Over the last 52 weeks, MYT is down -5.70% while the S&P 500 is up 20.39%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

MYT Return on Assets is 90.70%. All told, it is clear that, MYT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MYT has a short ratio of 0.04 and outstanding shares of 77.67M.

Company Outlook

MYT has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -0.05. Investors should also keep an eye on sector updates as MYT has historically followed its peers on positive news.

All told, Urban Tea Inc. MYT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MYT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Urban Tea Inc. MYT is now commanding a market cap of 21.97M and a float of 67.08M. MYT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MYT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MYT, either long or short, and we have not been compensated for this article.

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