Digital Brands (NASDAQ:DBGI) stock is rocketing higher on Thursday after revealing estimated financial data for its upcoming quarter.
Let’s jump into that news and other facts bout DBGI stock that potential investors will want to know.
- To start off with, Digital Brands estimates that revenue for its second quarter of 2021 has increased 100% compared to Q1 2021.
- The company plans to release the final results from its Q2 earnings report on or before Aug. 16.
- It will also schedule and conference call to go over the details of its upcoming earnings report.
- It’s worth pointing out that DBGI stock is still incredibly new to the public market.
- The company started trading on the Nasdaq Exchange in May after completing its initial public offering (IPO).
- Digital Brands is an e-commerce company that focuses on luxury lifestyle, digital-first brands.
- This has it offering several brands on a “direct-to-consumer and wholesale basis.”
- The company operates out of its headquarters in Vernon, Calif.
- Digital Brands was founded in 2012.
- It’s a small company that only has nine employees as of 2021.
- That and the penny stock price means it could be the target of a pump and dump by retail investors.
- Heavy trading of DBGI stock could be a sign of that with some 35 million shares changing hands as of this writing.
- That’s a hefty increase over the company’s daily average trading volume of 5.9 million shares.
DBGI stock was up 17.8% as of Thursday afternoon and is up 83.3% since the start of the year.
Investors looking for more stock market news today will want to keep reading!
There’s lots to talk about today with several companies seeing their shares moving today. A few examples of those include Aerpio Pharmaceuticals (NASDAQ:ARPO), Carver Bancorp (NASDAQ:CARV), as well as meme stocks falling today. You can learn more about these subjects by checking out the links below.
More Stock Market News for Thursday
- ARPO Stock: 12 Things to Know About Aerpio Pharma as Analyst Upgrade Sends Shares Soaring
- CARV Stock: 10 Things to Know About Carver Bancorp Amid a Giant Squeeze
- Meme Stocks: What’s Moving AMC, GME, WISH, PLTR and NEGG Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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