CPOP stock price increases more than 5% before market launch: details
- Pop Culture Group Co Ltd (NASDAQ: CPOP) share price rose more than 5% before market. These are the details.
The share price of Pop Culture Group Co Ltd (NASDAQ: CPOP) – a Xiamen, China-based hip-pop culture company that aims to promote hip-hop culture – rose more than 5% before commercialization. This is a continuation of the momentum, as the company’s stock price has risen approximately 1,200% since its inception.
The company organizes entertainment events and operates online programs related to hip-hop. On June 30, the company announced its initial public offering of 6.2 million Class A common shares at a public offering price of $ 6 per share. The Class A common shares have been approved for listing on the Nasdaq Global Market.
When it debuted in the market, the company’s stock price rose 405% to a closing price of $ 30.30. And it has peaked at $ 78 so far. Yesterday, the company’s stock price rose 97.69% and closed at $ 59.90.
“Our hip-hop concerts and events generated total attendance of 124,880 and 120,200 in the six months ended December 31, 2019 and 2020, respectively, and our online hip-hop programs generated over 153 million views. during the six months ended December 31. 2020, ”the About page of the company’s website reads.
Zhuoqin Huang is CEO, Director and Chairman of the Board of Directors. And Huang has been chairman of Xiamen Pop Culture since May 2016 and general manager since August 2008. Between March 2005 and August 2008, Huang was general manager of Fujian Zhongtian Chuanxun Advertising Co., Ltd. Xiamen branch. And from August 2002 to March 2005, Huang worked as a brand manager of Swire Coca-Cola Beverages Xiamen Ltd.
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