TEL AVIV – Medigs, Inc. (NASDAQ: MDGS), an Israeli-based technology company, has announced a corporate rebranding that includes changing its name to Xylo Technologies Ltd. This rebrand reflects the company's shift in focus to innovative technology. As part of this change, Medigs will update its corporate logo and launch a new website.
This transition is marked by a change in the Nasdaq trading symbol to XYLO. Trading under the new name and ticker is expected to begin trading on the Nasdaq Capital Market on April 18, 2024.
Medigus is currently known for its diverse portfolio in advanced medical solutions, digital commerce, and electric vehicle markets, and holds ownership interests in a variety of technology solution providers. These include Polyrizon Ltd. for medical solutions, Gix Internet Ltd., Jeffs' Brands Ltd. and Eventer Technologies Ltd. for digital commerce, as well as Charging Robotics Ltd. and Revoltz Ltd. through Fuel Doctor Holdings, Inc. included. In the field of electric vehicles.
This strategic rebranding effort is designed to better represent the company's current direction and core values around innovation. However, Medigas clarifies that forward-looking statements in press releases involve risks and uncertainties and there can be no assurance that anticipated results, performance or achievements will be achieved.
The information in this article is based on a press release from Medigus Ltd., which is responsible for the content of the press release. Medigus currently trades on the Nasdaq Capital Market, and those interested in learning more about his technology can visit his website at the company.
Investment Pro Insights
Medigus Ltd. (NASDAQ: MDGS) is preparing to embark on a new journey under the name Xylo Technologies Ltd., and investors are closely monitoring the company's financial health and market performance.
According to InvestingPro data, Medigas has a modest market capitalization of $4.89 million, despite the company's impressive revenue growth rate of 158.37% over the past 12 months as of Q2 2023. The P/E ratio is -0.51, and there is no profit at the moment.
Medigas is trading at a low earnings valuation multiple and is rapidly burning through cash, according to InvestingPro Tips. These factors, combined with the analyst consensus that the company is not expected to be profitable this year, could make it particularly interesting for investors considering the potential risks and opportunities associated with a rebrand.
These insights can help guide investors' decision-making process, as the company is trading near its 52-week low and has had poor performance over the past decade.
For those looking to dig deeper into Medigus' financial metrics and gain additional insights, InvestingPro offers a total of 9 InvestingPro Tips about the company, available at https://www.investing.com/pro It can be accessed from /MDGS.Investors can also use coupon codes pro news 24 Save an additional 10% on annual or biennial Pro and Pro+ subscriptions, giving you a comprehensive toolkit for informed investment decisions.
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