Pop Culture Group Co. Ltd. (CPOP) stock plunged down in the after-hours due to corrections as the stock gained big in regular session. No new developments or news caused the spike in the stock during the regular session.
In regular trading, CPOP stock saw a huge increase of 41.13% on no apparent news with 139.43M shares exchanging. Following the close at $3.26, the stock dropped down to $2.92 in the after-hours with a loss of 10.43%.
Incorporated in 2007, Pop Culture Group Co. Ltd. is ab entertainments events hosting platform for corporate clients in China. Currently, its 18.29 million outstanding shares trade at a market capitalization of $55.56 million.
CPOP stock Movement
On December 29, CPOP stock rallied big on a huge volume of 3,529% of its average volume. While there was no news from the company, the stock took a huge stride upwards, reaching a high of $3.46. Moreover, the stock was able to reach such a high after almost two months. While the day’s gain called for corrections itself, CPOP also saw an increase the day before. Hence, the stock fell under corrections in the after-hours on Wednesday.
The recent hikes in the stock have made its five-day gains reach over 95.2%, while it gained 67.18% last month. Furthermore, the stock has added a value of 7.59% in the past three months.
New Website Launch
On December 06, the company announced the launch of redesigned features of its website. The newly redesigned features include the company’s branding elements, adopting a unified visual identity, displaying its latest organizational structure, and embedding the investor relations page.
As per the announcement, the company aims to improve and simplify the user interface experience of those involved. The partners, customers, and investors would now be able to access the website more user-friendly and seamlessly.
According to the Chairman and CEO of CPOP, Mr. Zhuoqin Huang, the new website will now present the company’s key intellectual properties, operating data, and achievements. Moreover, it also encompasses CPOP’s three core business groups based on the recent structure upgrade.
CPOP’s Financial Highlights
On November 10, the company disclosed its financial results for the fiscal year 2021, which ended on June 30.
As per the results, CPOP reported revenue of $25.5 million with 63% year-over-year growth.
Moreover, the net income saw an increase of 75% year over year, to $4.3 million.
