Stock for Grom Social Enterprises, Inc. (GROM) sees a whopping after-hours growth spurt amounting to a near 75.0% in the shift. This sudden upward swing comes after a week of stability, and hardly any movement during the regular session. During trade hours stock moved up by a mere 1.38%, which indicates the suddenness of this jump for the stock. The media technology / entertainment company sees its round in fame after a recent interview, addressing critical shareholder concerns. This clearly can be attributed as a trigger to the frenzy around GROM, with a volume of over 3 million.
GROM Interview Brings Fresh Updates to Shareholders and Wider Market
Traders News Source (TNS), a corporate access and equity research firm holding market credibility, had conducted the interview. Thereafter, the information delivered, straight from the responses of CEO and President delivered access to crucial company matters, and prospects for GROM.
Furthermore, president Paul Ward detailed the company’s capability and innovative potential in its expansion out of Nickelodeon. Moreover, he emphasized how the company shifted to a full-fledged entertainment and media tech company. Further, he highlighted how GROM is close to achieving its pre-Covid levels of revenue, with its skilled Manilla-based setup.
The CEO shed insight into a recent acquisition, in response to a question, detailing synergistic growth potential with Curiosity Ink Media (CIM). The core benefit of the acquisition is the exposure the company delivers in both Hollywood and family entertainment in general. Furthermore, to the delight of the shareholders, the president revealed a number of initiatives and updates aimed at maximizing value. These were as follows:
- Modifying the app to deliver a more dynamic experience.
- Fresh leadership, giving the company a rebranding, and a fresh sense of direction.
- The successful launch of GROM Educational, tapping into a distinct market segment.
The sudden hype GROM finds itself surrounded by has clearly been triggered by the aforementioned interview. As is the case with penny stocks, it took little to create a swing, which has caught fire and produced a domino effect. The GROM trajectory holds the potential of seeing a push, from $0.90 to over $2.00. With evident growth prospects, traders have sufficient optimism to align their funds with this growth exposure. The market closely watches how far this Afterhours growth spurt will sustain, and drive up the stock.