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Molecular Data Inc. (MKD) Stock Plunging Deep in Premarket Due to Profit Taking

Molecular Data Inc. (MKD) is a leader in the chemical industry linking customers across the value chain via integrated systems. e-commerce company of China. It primarily delivers digital, economic, and warehousing solutions along with the SaaS suite for its clients in the conventional chemical industry.


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MKD stock price during the regular trading of March 16, 2022, leaped by 33.4% to be $0.22. Its price dropped at the time of writing in the premarket session on March 17, 2022, by 2.27%.

MKD: Events and Happenings

On January 19, 2022, MKD reported clinching the ‘2021 Digital Service Innovation Enterprise Award’. Also, it had been nominated as top 8 in the inventory of ‘Digitalization of the plastics industry. The Innovation Impact Initiative 2021 was unveiled by China Electronics Information Industry Research Institute, CCID, and Digital Economy Magazine.

On December 14, 2021, MKD updated on its entry into a JV contract for building North American supercomputing groups. The JV planned the construction of two plants in the US and the addition of 13MW in the preliminary phase. The total revenue generated by the joint venture was approximately $5 million and a gross profit of $4 million.

On December 6, 2021, MKD announced the up-gradation of its portfolio utilizing Blockchain for its chemical industry. This adoption can be applied to numerous protocols from the front to back end to enhance integrity. The efficiency and safety of transactions will be improved.

MKD: Key Financials

On May 17, 2021, MKD released its yearly financial outcomes for the year ended December 31, 2020. Some important updates are mentioned below.

Revenue

Net revenue in the FY 2020 was RMB7.5 billion versus RMB13.2 billion in FY 2019. The company reported a decline of RMB5.61 billion in its net revenue over the year.

EPS

Diluted net loss per share in FY 2020 was RMB328 million or RMB0.87 against RMB193 million or RMB0.62 in the comparable year 2019. Its EPS declined significantly YoY.

Conclusion

A decline of 82% was recorded in the last year as the overall economic situation globally in the pandemic was down. The current decline in the premarket stock of the company is likely the impact of profit-taking as no SEC filing or official press release is present on the company’s website.

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