Karaoke equipment maker Singing Machine's stock soars 47% as new party line available at 866 Walmart stores
The stock of Singing Machine Co. Inc. (MICS), a maker of Karaoke machines, soared 47% in premarket trade Tuesday, after the company said it has launched a new party accessory product line that's available at about 866 Walmart (WMT) stores across the U.S. The line features the latest party accessory from Fort Lauderdale, Fla.-based Singing Machine, the Celebration Mic which is aimed at children's parties. The product which has a suggest retail price of $9.97, feathers a variety of pre-recorded songs, multi-colored LED lights, and an integrated speaker to enhance the occasion. The stock is down 65% in the year through Monday's close, while the S&P 500 has gained 17.8%.
-Ciara Linnane
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07-18-23 0854ET
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