GD Culture (NASDAQ:GDC) stock is rocketing higher on Tuesday with investors reacting to the company’s latest earnings report.
During the first quarter of 2023, GD Culture reported a diluted loss per share of $2.87. That’s a massive drop compared to the company’s EPS of 69 cents from the same period of the year prior.
When it comes to revenue, GD Culture brought in $75,374. Investors will note that the company doesn’t include revenue from Q1 2022 to contrast this with in the report. Also, there’s not enough analyst coverage of GDC stock for EPS or revenue estimates.
Investors will keep in mind that GD Culture ended its contract with Sichuan Wuge Network Games back in September 2022. As a result of this, the company no longer treats it as a consolidated affiliated entity. That means it doesn’t include financial information from Sichuan Wuge Network Games in its earnings reports.
What to Keep in Mind About GDC Stock
First off, investors will note that GDC stock is a penny stock. This comes from its low market capitalization of just $16.93 million as of this writing. Additionally, the company’s float is below 1 million shares. That means it could be subject to more speculative traders causing big moves.
Finally, shares of GDC stock are seeing incredibly heavy trading as of this writing. That has some 33 million shares changing hands on Tuesday morning. The company’s daily average trading volume is around 859,000 shares.
GDC stock is up 106.2% as of Tuesday morning.
There’s more stock market news traders can read about at the links below!
We’ve got all of the most recent stock market coverage investors need to know about on Tuesday! A few examples include why shares of Guardforce AI (NASDAQ:GFAI), Gilead Sciences (NASDAQ:GILD) and Seagen (NASDAQ:SGEN) stock are moving today. You can find all that news at the following links!
More Stock Market News For Tuesday
- Why Is Guardforce AI (GFAI) Stock Up Today?
- GILD Stock Price Predictions: Is Gilead Sciences Really Worth $100?
- Seagen (SGEN) Stock Falls 6% After Director Sells Shares
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Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
