Stock for Katapult Holdings, Inc. (NASDAQ: KPLT) has been flying on Tuesday, achieving growth of 29.6% in the first hour. As the current trade session continues, traders are closely eyeing KPLT movement, betting on whether it will close green or red. The stock has been on a rapid climb after hitting its all-time low yesterday, during the afternoon. The movement has attracted traders to cash in on this growth exposure, causing KPLT trade volume to exceed three million.
New Executive Hirings for Katapult
The fintech-focused ecommerce company has recently made the news, leading to the market responding in an immediate fashion. Last week, Katapult announced the bringing on board of fresh faces to its executive leadership. This had included both a Chief Marketing Officer along with Chief Human Resource Officer. The additions to the organization hint towards broader expansionary initiatives in the B2B realm, sure to add value to the company’s operations. Both marketing and human resources stand as critical domains, which could transform Katapult to a high degree.
Strong Financial Results for KPLT
More recently Katapult released financial results for the prior year, along with that of its fourth quarter. The following highlights emphasize the core areas that have proven to be of particular interest to market participants tracking KPLT:
- Revenue for 2021 was reported as $303.1 million, which was at a 23% increase from the prior year. This is a clear indication of steady growth despite the macroeconomic challenges of 2021.
- Number of merchants last year was increased from 45 to a total of 102. A more than doubling of merchants signifies the expansion of marketscope Katapult has been working towards.
- Liquidity position of the company stands highly strengthened with cash and equivalents at the end of the year amounting to $92.5M. Alternatively, the figure for the previous year stood at $63.0M. This indicates the minimal risk exposure the company faces in this domain, boosting its financial sustainability.
Each of these areas instills confidence within the market regarding KPLT, deeming it a feasible investment.
The high trade volume associated with KPLT points towards the level of keen interest the market currently attaches to the stock. Its remarkable growth today links to important updates put forward by the company throughout the last week. The hiring of two seasoned executives points towards expansionary initiatives propelling growth and innovation. Moreover, the financial results instill confidence in regard to growth potential and business sustainability.