Eightco (NASDAQ:OCTO) stock is a hot topic among traders on Thursday as they prepare for a potential catalyst for the company come April 17.
That’s when Eightco — which previously operated as Cryptyde — will release its earnings report for the fourth quarter of 2022. This will mark the first time the company has released an earnings report since changing its name and ticker.
In addition to its Q4 earnings, the financial report will also cover results for full-year 2022 as well as provide investors with an operational update for the year. Eightco doesn’t mention a conference call alongside these results.
The OCTO Stock Change
Eightco only went through its name and ticker change earlier this week. Prior to that, the company operated as Cryptyde and traded under the TYDE stock ticker. With this change, Eightco is focusing on its most valuable asset, Forever 8.
Forever 8 is the company’s major subsidiary with expected revenue of $60 million in 2023. With the switch to focusing on Forever 8, Eightco is moving away from its crypto business due to recent volatility in the market.
Pre-market trading for OCTO stock is starting off strong with some 3.4 million shares on the move as of this writing. That’s not a bad way to begin the day, considering its daily average trading volume is about 7.3 million shares.
OCTO stock is up 34% in pre-market trading on Thursday!
Investors can check out more of the latest stock market news below!
We’ve got all of the hottest stock market coverage worth reading about on Thursday! Among that is what has shares of AMC Entertainment (NYSE:AMC), Lumentum (NASDAQ:LITE) and Plug Power (NASDAQ:PLUG) stock moving today. We’ve got all of that news ready at the following links!
More Thursday Stock Market News
- Why Is AMC Stock Up 12% Today?
- Why Is Lumentum (LITE) Stock Down 14% Today?
- 5 Investors Betting Big on Plug Power (PLUG) Stock
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On the date of publication, William White did not hold (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.
