Singing Machine (NASDAQ:MICS) Shares Down 2.8% – Here’s What Happened

Shares of The Singing Machine Company, Inc. (NASDAQ:MICS) dropped 2.8% during mid-day trading on Friday . The company traded as low as $2.06 and last traded at $2.11. Approximately 50,374 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 255,673 shares. The stock had previously closed at $2.17.

Singing Machine Stock Performance

The stock has a 50 day simple moving average of $2.30 and a two-hundred day simple moving average of $2.40.

About Singing Machine

The Singing Machine Company, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.