NASDAQ: FNKO stock lost 13.92% of its trading price on the August 4 trading session; it opened trading at $6.88, lowering to $6.16; it hit a high of $6.98 and closed trading at $6.37 with an intraday trading volume of 2.5 Million.
In the 52 weeks trading session, FNKO stock’s highest traded price was $25.24, and its lowest traded price was $6.16. FNKO’s share price slipped more than 14.61% in a week and 42.72% in a month.
The annual price target of Funko, Inc. stock is $8.83, which is around 38.67% greater than its current trading price. After analyzing the candlestick pattern, it is noted that if sellers continued their dominance over buyers, then FNKO stock price might face a fresh 52-week low in the coming weeks.
Since July 17, FNKO stock has been consolidating in the narrow range of $6.88 to $8.17. The company’s stock traded below 50-day and 200-day EMAs at press time.
On August 3, the company released its earnings, failing to beat the estimated figure in the second quarter of 2023.
Significant selling was observed on the August 4 trading session; buyers seemed struggling, and sellers succeeded in pulling the price of FNKO stock downwards.
But the price will likely fail to sustain at lower levels, and there are possibilities that it might face immediate resistance of $7.48 and the following possible resistance of $8.18.
Funko Inc Earnings & Revenue
In Q2 2023, Funko, Inc reported 4.10% less revenue than estimated figures; as per estimation, the company was supposed to report $250.29 Million but reported $240.03 Million. Moreover, in Q1 2023 company’s revenue seemed profitable and reported 6.92% more revenue than estimated.
In Q1, the earnings per share of Funko, Inc. surged more than 46.80% than the estimated figures. Although in Q2, the reported was 4.37% less than the estimated EPS.
According to TradingView data, 32.421 Million FNKO shares are free-floating, and the remaining 14.975 Million shares are closely held by the company’s financial backers or board of directors.
Conclusion
As per the analysis, the decline in the last trading session will be covered in the upcoming session, and buyers will show their aggressiveness by the end of the upcoming week.
Technical Levels
Support Level: $6.13
Resistance Level: $7.48
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/05/funko-inc-reported-less-revenue-than-estimated-lost-42-monthly/