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Tag: Direct Digital Holdings

  • Direct Digital Holdings Inc. (DRCT) Soars over 83.33% Premarket After Continued Downfall

    On March 09, shares of Direct Digital Holdings Inc. (DRCT) were trending heavily in the premarket after it plunged down to a new low in the previous session. There is no recent announcement from the company behind the latest bullish trend.

    In the previous trading session, the stock plunged down to its new low of $1.18. DRCT closed the session in the red with a loss of 7.69% while the volume remained below the average. Following the downfall, the stock rebounded in the premarket on Wednesday. At the last check, the stock had increased by a humungous 85.00% in the premarket. Hence, DRCT was trading at a value of $2.22 per share at the time of writing. The volume of the share exchanged in the premarket session was 1.5 million at the time.

    The demand-side and supply-side ad platform (DSP & SSP) provider, Direct Digital Holdings Inc. was founded in 2018.

    What is Happening with DRCT?

    It was only at the start of February 2022 that the company went public with its Initial public offering. Since its IPO, the stock has been on a downtrend, plunging down over 94%. DRCT stock started trading on Nasdaq at a price of $4.30 per share on February 11. Since then the stock had been going down to reach its latest low of $1.18 on March 08. In the following premarket session, the stock finally rebounded to surge over 150%. As there is no official announcement or SEC filing, the stock seems to be rebounding on external factors. It seems the investors are taking advantage of the stock’s low price and hence buying it before the company’s upcoming earnings. The company is set to declare its latest earning near the end of this month.

    Source: SoFi

    Upcoming Earnings

    On March 02, the company announced that it will be reporting its Q4 and fiscal 2021 earnings on Tuesday, March 29, 2022. The company’s management will be hosting the earnings conference call at 5:00 pm EST, after the market close.

    DRCT’s Initial Public Offering

    On February 10, the company announced the pricing of its underwritten initial public offering of 2,800,000 units for gross proceeds of $15,400,000 approx. Each of the units consisted of a Class A common stock and a warrant for buying a Class A common stock. Additionally, a 45-day option for additional 420,000 common stock shares and/or warrants was also granted.

    Therefore, the company’s Class A common stock and warrants commenced trading on Nasdaq under “DRCT” and DRCTW” respectively, on February 11.

    The offering closed on February 15, 2022.

  • Direct Digital Holdings Inc. (DRCT) Finally Rebounds Premarket After its Recent IPO

    Direct Digital Holdings Inc. (DRCT) Finally Rebounds Premarket After its Recent IPO

    On February 16, 2022, shares of Direct Digital Holdings Inc. (DRCT) finally made a comeback in the premarket after its recent IPO. The stock seems to have rebounded after the close of its IPO on February 15, 2022.

    In the previous trading session, DRCT varied between a high of $2.65 and a low of $2.43 at 593.49K shares. The stock closed the session in the red at $2.50, suffering a loss of 6.37%. The day’s volume remained below the average of 1.97 million. The stock finally saw a reversal in the premarket as it gained 15.20%, at the last check on Tuesday. Hence, DRCT stock was trading at a price of $2.88 per share in the premarket, at the time of writing.

    The demand side-ad platform (DSP) and supply-side ad platform (SSP) provider, Direct Digital Holdings Inc. was formed in 2018. Currently, the company has a market capitalization of $10.68 million while its 4 million shares are outstanding in the market.

    Initial Public Offering

    On February 10, the company announced the pricing of its underwritten initial public offering. In the IPO, DRCT offered 2,800,000 units at a price to the public of $5.50 per unit. Each of the units consists of one Class A common stock share of the company and one warrant to buy a Class A common stock share.

    Additionally, the company also granted a 45-day option for buying an additional 420,000 Class A common stock shares and/or warrants to purchase the same amount of shares at the same price as the IPO. Moreover, the units were immediately separable and were issued separately in the offering by the company.

    The Class A common stock and warrants commenced trading separately on Nasdaq on February 11, 2022, under “DRCT” and “DRCTW”.

    Furthermore, the company expected gross proceeds of $15,400,000 from the offering, less discounts, and commissions.

    The offering was expected to close on February 15, 2022.

    DRCT Stock Movement Since the IPO

    DRCT stock had been all but going down since its Class A common stock and warrants commenced trading on Nasdaq on February 11. In the past five days, since its IPO, the stock has declined by a huge 88.24%. The downtrend of the stock finally ended after the IPO supposedly closed yesterday. Although the stock is down by a huge chunk since its IPO, it finally seems to be on the right path towards recovery.DRCT may as well go further above its IPO value if the company upholds progress and development. How the stock actually performs all depends on the company.