Luokung Announces Issuing 5.5 Million Shares to Obtain $220 Million Strategic Investment that will take effect July 31st. Could see the stock go from $1.32 to $13.81 a share.
if the market cap of LKCO increased from $21.18 million to $221.18 million, the new stock price would be approximately $13.81 per share.
Initial Stock Price = $1.32
Initial Market Cap = $21.18 million
New Market Cap = $221.18 million
First, we need to find the initial number of outstanding shares using the initial market cap and stock price:
Number of Outstanding Shares = Initial Market Cap / Initial Stock Price
Number of Outstanding Shares = $21,180,000 / $1.32 ≈ 16,022,727 shares
Now, we want to find the new stock price with the new market cap of $221.18 million:
New Stock Price = New Market Cap / Number of Outstanding Shares
New Stock Price = $221,180,000 / 16,022,727 ≈ $13.81
So, if the market cap of the company increased from $21.18 million to $221.18 million, the new stock price would be approximately $13.81 per share.
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