Why Is Grom Social (GROM) Stock Up Today?

Today, Grom Social (NASDAQ:GROM) stock is trading up 9% on heavy volume thanks to news it has brought on a new branding and design expert.

hands holding smartphone with social media icons floating above it. brick wall background.
Source: Shutterstock

This move shouldn’t be surprising to investors who have followed this stock for some time. A favorite of retail traders, GROM has been on a truly wild ride over the past year. Peaking at $19.50 in May 2021, GROM stock has since declined to the $1.15 level today.

A growing social media platform, Grom Social has been attracting a lot of attention. That’s because this platform is geared toward children under 13 years of age. With so much scrutiny now on the addictive nature of social media, it seems some speculative investors are looking to this company as a solution.

Now, news of a new expert on the Grom team is furthering this interest today. Let’s dive into what investors need to know.

GROM Stock Surges Higher on Executive Addition

Today, Grom Social announced the company is adding to its talent pool. The company has brought in Richard Manville to lead design for Santa.com. This engagement comes following the recent acquisition of Curiosity Ink Media.

Manville comes with a rather impressive resume that investors seem to like. His time at Mattel (NASDAQ:MAT), Time Warner and Turner Broadcasting bode well for the design aspect of Grom’s businesses.

It’s expected that Manville will work with Curiosity Ink Media to provide the overall design, layout and functionality for the Santa.com site, which is its holiday hub. Additionally, it’s expected that Manville will be involved in the Grom Social app as well, in some shape or form.

Right now, it appears investors are looking for a reason to buy GROM stock. Perhaps this is the catalyst they were waiting for.

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On the date of publication, Chris MacDonald 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.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2022/03/why-is-grom-social-grom-stock-up-today-manville/.

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