Creatd Inc. (CRTD) shares soared 28.67% in after-hours on Monday, July 12, 2021, and closed at $7.18 per share. Earlier in the normal trading session on Monday, CRTD’s stock gained 33.17% to close Monday’s session at $5.58. CRTD shares have fallen 59.57% over the last 12 months, and they have moved up 48.80% in the past week. Over the past three months, the stock has gained 26.53%, while over the past six months, it has declined 33.81%.
Let’s see is there any reason behind its exceptional gains on Monday?
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A key milestone achievement and updated revenue guidance
On June 30, 2021, Creatd, Inc achieved a new business milestone of surpassing 30,000 Vocal+ subscribers. Vocal+ is the premium subscription offering of the Company’s flagship product. Together, Vocal counts over 1 million freemium and Vocal+ premium members in its vibrant creator community.
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On this important achievement, CEO Jeremy Frommer said that he is pretty confident that the company can earn $1 million in net revenues for the second quarter of 2021representing a 3x increase as compared to the same period last year.
Closing of Public Offering of Common Stock
On June 21, 2021, Creatd, Inc closed its underwritten public offering of 750,000 shares of its common stock, at a public offering price of $3.40 per share, for a total offering size of approximately $2.6 million.
The underwriters will get a 30 days limit to buy additional 112,500 shares of its common stock on the same terms and conditions.
The company will get aggregate net proceeds of approximately $2.4 million after all deductions.
MOU signing to acquire WHE Agency
On June 16, 2021, Creatd, Incsigned a memorandum of understanding to acquire a 55% ownership stake in WHE Agency (“WHE”), through its wholly-owned subsidiary, Creatd Partners.
According to the sources, the proposed transaction will consist of $275,000 in cash and $660,000 in stock and is expected to be immediately accretive to Creatd’s earnings following its closing.
Launching New ‘Fiction’ Community
On June 10, 2021, Creatd, Inc launched ‘Fiction,’ Vocal’s newest community. ‘Fiction’ to showcase creators’ imaginative work, housing fiction stories of any genre or format.
The Company has also named Unbound as the official supporter of the ‘Fiction’ community. Unbound is the world’s first crowdfunding book publisher, whose platform empowers authors with the tools, support, and community to bring their book ideas to life.
Lead Editorial Innovator appointment
The Company also appointed Erica Wagner, celebrated author, critic, and literary editor, as its new Lead Editorial Innovator.
Inauguration on Russell Microcap Index
Creatd, Inc. joined the Russell Microcap® Index, according to a preliminary list of additions released on June 4, 2021. The conclusion of the Russell US Index’s annual reconstitution was effective after the US market opened on June 28, 2021.
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Conclusion
As of this writing, there is no recent news or development that could justify its exceptional surge on Monday. We hope that it will continue its momentum in the coming days.