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The Singing Machine Company, Inc. - $MICS STOCK NEWS

Welcome to our dedicated page for The Singing Machine Company news (Ticker: $MICS), a resource for investors and traders seeking the latest updates and insights on The Singing Machine Company stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect The Singing Machine Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of The Singing Machine Company's position in the market.

Rhea-AI Summary
The Singing Machine Company showcased its new Sesame Street-branded karaoke products at the 2023 New York Toy Fair. The products have been well received for their entertainment value and educational opportunities. The announcement aligns with the Company's social impact initiative to improve the mental and physical health of children. Highlights of the new line include a Sesame Street Karaoke Backpack and Singing Machine Mini Sparkle Karaoke.
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-3.9%
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Singing Machine launches fully redesigned flagship karaoke machine in partnership with Costco, offering improved hardware and software capabilities
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0.93%
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Singing Machine signs lease for karaoke venue in Manhattan, plans to open multiple locations throughout the country
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5.38%
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Rhea-AI Summary
Singing Machine releases Q2 2023 results, with revenues of $2.6M, a decrease of $9.1M YoY due to prior year's Walmart orders. Gross margins improved to 32.3%, operating expenses increased to $3.3M, and the company has $8.6M in working capital. CEO optimistic about holiday season and upcoming product launches.
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Singing Machine to release Q1 fiscal 2024 earnings tomorrow
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3.57%
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Ault Alliance's subsidiary, The Singing Machine Company, has launched a new party accessory product line available at Walmart stores. The Celebration Mic targets the children's party market and is priced at $9.97. Singing Machine sees this as a promising area of growth and aims to deepen its relationship with Walmart.
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End-of-Day
-8.07%
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Rhea-AI Summary
Singing Machine Company, Inc. has launched a new party accessory product line called Celebration Mic, targeting the children's party and event market. The Celebration Mic features pre-recorded songs, LED lights, and an integrated speaker. It is now available at approximately 866 Walmart stores nationwide with a suggested retail price of $9.97. Singing Machine sees this as a promising area of growth and aims to deepen its relationship with Walmart.
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29.03%
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The Singing Machine Company, Inc. released its fiscal year 2023 results, reporting a decrease in revenues compared to the previous year. Gross margins improved due to cost rationalizations and lower logistics costs, but were partially offset by higher labor and fuel costs. Operating expenses increased, mainly due to non-recurring transactions. The overall balance sheet improved, with increased cash on hand and reduced short-term liabilities. The company's CEO highlighted major milestones and growth initiatives for fiscal 2024.
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2.56%
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-15.08%
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The Singing Machine Company, Inc.

Nasdaq:MICS

MICS Rankings

MICS Stock Data

7.25M
1.32M
72.03%
8.94%
0.41%
Software and Other Prerecorded Compact Disc, Tape, and Record Reproducing
Manufacturing
Link
United States of America
FORT LAUDERDALE

About MICS

it all started with a vision…​ singing machine was founded in 1982 in california as a manufacturer of professional and semi-professional karaoke machines. in 1988, our founder eddie steele saw potential in home karaoke machines and the results speak for themselves. singing machine became the first company to introduce home karaoke products to the united states earning us the spot as the most recognized karaoke brand and as such, singing machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. today, we are the north american leader in consumer karaoke products and have grown at an explosive rate of 20% year-over-year. we offer the industry’s widest line of at-home karaoke machines, accessories, and music-oriented toy products at affordable price points that represent tremendous value to our customers as well as over 14,000 songs for streaming and download with apps available for ios and android. singing machine products