What's Going On With Digital Brands Group (DBGI) Stock Today?
Portfolio Pulse from Erica Kollmann
Digital Brands Group, Inc. (NASDAQ:DBGI) shares have been volatile with heavy trading volume, leading to multiple trading halts. The company recently executed a 1-for-25 reverse stock split. DBGI's Q2 financial reports showed earnings of 38 cents per share and revenue of $4.5 million, a 69.6% increase. The company expects Q3 and Q4 revenues to be significantly higher. Despite this, DBGI shares are down by more than 3%.
August 23, 2023 | 4:43 pm
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Digital Brands Group shares have been volatile due to heavy trading volume. Despite positive Q2 earnings and a positive outlook for Q3 and Q4, shares are down by more than 3%.
Despite positive Q2 earnings and a positive outlook for Q3 and Q4, DBGI shares are down by more than 3%. This is likely due to the heavy trading volume and the recent 1-for-25 reverse stock split, which can often lead to increased volatility as investors adjust to the new share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100