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FingerMotion, Inc. - FNGR STOCK NEWS

Welcome to our dedicated page for FingerMotion news (Ticker: FNGR), a resource for investors and traders seeking the latest updates and insights on FingerMotion stock.

FingerMotion, Inc. (NASDAQ: FNGR) is a mobile services and data company based in China, specializing in mobile payment and recharge services. The company offers Telecommunications Products and Services, Value Added Products and Services, Short Message Services (SMS), Multimedia Messaging Services (MMS), a Rich Communication Services (RCS) platform, Big Data Insights, and a Video Games Division (inactive). FingerMotion generates revenue by providing mobile payment and recharge services to customers of telecommunications companies in China.

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FingerMotion, Inc. announced that Martin J. Shen, CEO, will present at the 13th Annual LD Micro Invitational. The presentation will take place on June 6, 2023, at 3:00 p.m. ET. Mr. Shen will also be available for one-on-one meetings with members of the financial community.
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FingerMotion, Inc. (NASDAQ: FNGR) announced the elimination of its remaining convertible debt, totaling over $5 million, with its primary lender, Lind Global Fund II LP. This strategic move strengthens the company’s balance sheet and protects shareholders by removing the potential for further stock dilution. CEO Martin Shen emphasized the importance of this achievement in reinforcing shareholder value and positioning for future growth. Founded in China, FingerMotion focuses on mobile payment solutions and aims to develop a user ecosystem that could eventually serve over 1 billion users. The company continues to innovate and expand its market presence, leveraging its access to wholesale recharge minutes from major mobile providers.

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FingerMotion, Inc. (NASDAQ:FNGR) announced the outcomes of its annual meeting held on February 17, 2023. Key decisions included the election of four board members, the appointment of Centurion ZD CPA & Co. as the independent auditor, and the approval of the 2023 Stock Incentive Plan. Additionally, an amendment to reduce the exercise price of stock options from $8.00 to $3.84 was approved. However, two proposals regarding share issuance to the primary lender and a reduction of the floor price were not approved. The current executive team, including CEO Martin Shen and CFO Yew Hon Lee, was re-appointed.

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FingerMotion, Inc. (NASDAQ:FNGR) reported its financial results for Q3 2023, achieving a record revenue of $11.40 million, a notable 93% increase year-over-year. The telecommunications segment showed remarkable growth, with 215% revenue growth year-over-year. However, the company faced a 67% decline in SMS & MMS revenue. Despite a 143% rise in losses to $2.52 million, the company holds a strong cash position of $11.87 million and a working capital surplus of $16.71 million. The CEO expressed optimism for recovery in revenue trends post-COVID restrictions in China.

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FingerMotion, Inc. (NASDAQ:FNGR) anticipates quarterly revenues exceeding $10 million for the period ending November 30, 2022, driven by growth in its core businesses. The company raised $15.5 million through private placements to support operations, with $11.5 million remaining for potential debt repayment and revenue generation. Although the lender has not responded to repayment offers, monthly payments will begin on February 9, 2023. CEO Martin Shen emphasized that revenue growth is expected, aided by the upcoming device protection program, which could significantly boost margins.

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FingerMotion Inc. (FNGR) has signed a service agreement with ShareIntel to aid in the investigation of potential illegal naked short selling of its stock over the past two years. This partnership will leverage ShareIntel's patented DRIL-Down™ process to analyze trading history, identify unusual trading activity, and protect shareholder interests. CEO Martin Shen emphasized the company's obligation to investigate irregular trading patterns to safeguard investor value. The collaboration aims to expose possible market manipulation, aligning with the Christian Warshaw Group's ongoing efforts against illegal stock practices.

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FingerMotion (NASDAQ:FNGR) announces a significant advancement in collaboration with Munich Re, aiming to commercialize their behavioral research in the Chinese market. Their joint efforts will utilize a proprietary behavior intelligence system from FingerMotion's subsidiary, JiuGe Technology, to develop algorithms enhancing insurance underwriting and risk assessment. This partnership is set to drive innovations in customer profiling, claims management, and risk selection, contributing to a more efficient insurance model. The long-term goal is to transform insurance experiences through analytic innovation.

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FAQ

What is the current stock price of FingerMotion (FNGR)?

The current stock price of FingerMotion (FNGR) is $1.1 as of December 24, 2024.

What is the market cap of FingerMotion (FNGR)?

The market cap of FingerMotion (FNGR) is approximately 59.2M.

What services does FingerMotion, Inc. offer?

FingerMotion offers Telecommunications Products and Services, Value Added Products and Services, Short Message Services (SMS), Multimedia Messaging Services (MMS), a Rich Communication Services (RCS) platform, Big Data Insights, and a Video Games Division (inactive).

How does FingerMotion generate revenue?

FingerMotion earns revenue by providing mobile payment and recharge services to customers of telecommunications companies in China.

What is the core business of FingerMotion?

The core business of FingerMotion is focused on mobile payment and recharge platform solutions in China.

What is FingerMotion's vision for the future?

FingerMotion aims to rapidly grow its user base through organic means and develop an ecosystem of highly engaged users utilizing innovative applications.

What sets FingerMotion apart from other companies in the mobile services industry?

FingerMotion stands out for its comprehensive range of services, including mobile payment and recharge solutions, Big Data Insights, and a focus on developing value-added technologies for its users.

Where can I find more information about FingerMotion, Inc.?

For more information on FingerMotion, visit their official website at https://fingermotion.com/.

How does FingerMotion plan to expand its services in the future?

FingerMotion plans to introduce new offerings such as cloud-based services, lifestyle apps, and potentially health and auto insurance to expand its user base and drive growth.

What recent achievements has FingerMotion, Inc. celebrated?

FingerMotion recently received awards at the FiNext Conference for Excellence in Finance - Companies and Excellence in Finance - Leaders, recognizing the company's performance and CEO's contribution to the finance industry.

What legal actions has FingerMotion been involved in recently?

FingerMotion filed a federal lawsuit against Capybara Research and Accretive Capital LLC d/b/a Benzinga for securities fraud, tortious interference, and defamation, aiming to redress the damage caused by false and malicious articles.

How has FingerMotion performed financially in the past year?

FingerMotion reported strong revenue growth year over year, with a rise in gross profit coming from its Telecom Products and Services business despite increased general and administrative expenses.

FingerMotion, Inc.

Nasdaq:FNGR

FNGR Rankings

FNGR Stock Data

59.19M
38.34M
28.74%
2.19%
2.98%
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