Pop Culture Group (NASDAQ:CPOP) stock is rising higher on Thursday alongside an operational update from the Chinese entertainment events hosting company.
According to a press release, the firm’s revenue for the last six months of 2023 came in at $24 million. That’s a major win for CPOP stockholders compared to its previous revenue of $11.25 million. That means its revenue jumped 113% year-over-year (YOY).
To go along with that, Pop Culture Group notes that consolidated gross profit in the same six-month period was $1.78 million. That’s another reason for CPOP shareholders to celebrate, considering it reported a consolidated gross profit of -$2.34 million during the previous period.
Pop Culture Group notes the following about its latest performance in the new release:
“During the six months ended December 31, 2023, Pop Culture experienced a growth in its online brand marketing and promotion business, which increased by over 280% compared to the same period of the previous fiscal year.”
CPOP Stock Movement Today
With today’s news comes increased interest and heavy trading of CPOP stock. This has more than 63 million shares changing hands as investors buy the stock. For the record, that’s well above the company’s daily average trading volume of about 2.6 million shares.
CPOP stock is up 84% as of Thursday morning and is up 177.7% since the start of the year.
There are more stock market stories traders will want to read about down below!
We have all of the hottest stock market news available on Thursday! Among that is what has shares of Robinhood (NASDAQ:HOOD), Plug Power (NASDAQ:PLUG) and Cardlytics (NASDAQ:CDLX) stock in the news today. You can catch up on all of that at the following links!
More Thursday Stock Market News
- Mizuho Just Raised Its Price Target on Robinhood (HOOD) Stock
- PLUG Stock Falls as Plug Power Revenue Falls Short
- Why Is Cardlytics (CDLX) Stock Down 29% Today?
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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.
