Mannatech shares hit 52-week high of $12.3 amid strong growth Investing.com

Mannatech, Incorporated (MTEKS), a global provider of wellness solutions, saw its stock hit a 52-week high, hitting $12.3 in a remarkable display of market confidence. According to InvestingPro analysis, while the stock appears to be slightly undervalued, technical indicators suggest it is in overbought territory. This high reflects a significant increase in the value of the company’s shares, with an impressive year-to-date return of 50.74%. Investors have shown increasing enthusiasm for Mannatech’s performance, driving the stock to new heights over the past year. The company’s strategic initiatives and strong financial results, including an impressive gross profit margin of 76.3%, contributed to this upward trajectory. InvestingPro subscribers can access 5 additional key insights into Mannatech’s financial health and growth prospects, essential for making informed investment decisions in the wellness industry.

“In other recent news, Texas-based Mannatech Incorporated, known for developing medicinal chemicals and herbal products, has moved its listing from the Nasdaq Global Market to the Nasdaq Capital Market. The move follows notification by Nasdaq’s Listing Qualifications Department of the company’s failure to meet the $10 million net capital requirement to continue listing on the Nasdaq Global Market. Despite this, the company’s common stock will remain available to investors due to Mannatech’s compliance with capital market listing standards.

In connection with the development, Mannatech has been warned of a potential delisting from the Nasdaq Global Market due to a lack of capital. As of recently, the company’s shareholders’ equity is $8.199 million, which is below the required $10 million threshold. Mannatech is actively exploring options to address this deficiency and plans to submit a compliance plan immediately.

In addition to these financial updates, Mannatech recently held its annual meeting of stockholders, which re-elected Class I directors and ratified BDO USA, PC as the company’s independent public accounting firm for the current fiscal year. Moreover, the company has announced a strategic expansion into the Thailand market, which is part of a broader strategy to enter the Southeast Asian market. This move aims to introduce Mannatech’s products based on Glycan technology to a new demographic and capitalize on the growth potential of the Thai direct selling and dietary supplement market.”

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