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GROM Stock: 12 Things to Know About Grom Social as Shares Soar Today

Grom Social (NASDAQ:GROM) stock is soaring higher on Friday and there’s a few things investors will want to know about the social media company.

GROM stock: a phone displaying the GROM social network app page in the app store

Source: Postmodern Studio / Shutterstock

Let’s jump into the latest Grom Social news and details for potential investors in GROM stock below!

  • The most recent news from the company today includes additional safety features.
  • The Grom Social app is social media only for children under the age of 13.
  • As such, the company is trying to make it as safe a place as possible for its target audience.
  • Today’s news includes extra parental control features that give parents extra options for monitoring their child’s social media use.
  • On the business side of things, the company revealed an update to a private placement yesterday.
  • That includes an increase for a second investment to $6 million.
  • That brings its expected gross proceeds from the private placement up to $10.4 million.
  • Outside of company-specific news, it’s worth noting that certain social media companies are on the rise lately.
  • That includes those focused on privacy first as alternatives compared to typical social media companies.
  • This comes as former President Donald Trump moves forward with plans to create his own social media platform.
  • That includes a deal with special purpose acquisition company (SPAC) Digital World Acquisitions (NASDAQ:DWAC) to take the company public.
  • The social media platform is called Truth Social and is under private company Trump Media & Technology Group.

GROM stock was up 18.6% as of Friday afternoon.

There’s more recent stock coverage below!

We’ve got all the latest stock news for traders on Friday! That includes what’s happening with shares of Greenidge Generation (NASDAQ:GREE), Beyond Meat (NASDAQ:BYND), and Walmart (NYSE:WMT) stock today. You can learn all about that from the following links!

More Friday Stock Market News

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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