Why Onion Global Limited (OG) could not hold on to its gains on Thursday evening trading?

Onion Global Limited (OG) shares declined 4.86% in after-hours on Thursday, September 30, 2021, and closed the daily trading at $8.41. However, in the regular trading session, OG’s stock gained 30.00%. The stock volume remained 3.84 million shares on Thursday. OG shares have moved up 28.49% in the past week. Over the past three months, the stock has gained 129.61%. The company has a current market of $769.08 million and its outstanding shares stood at 92.28 million.

Let’s have a look at its recent news and developments.

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OG launched LUCA Elite Club

On September 30, 2021, to further motivate and educate its key opinion consumers community and enhance the efficiency of its private domain traffic pools by developing more brand partnerships to precisely reach more C-side users, Onion Global Limited announced that it will launch an ongoing event called the LUCA Elite Club.

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The LUCA Elite Club events will create deeper impressions between the Company and brand partners and will attract more customers.

OG participation in the recent investment conference

Onion Global Limited (OG) recently participated at the TradeUP Autumn E-Commerce Investment Conference which was held on September 15, 2021.

OG achieved another milestone

On September 10, 2021, Onion Global Limited (OG), 2021 Beauty Carnival shopping festival achieved another milestone and generated a total Gross Merchandise Volume of RMB222 million during the first three days. The Beauty Carnival is one of Onion Global’s key shopping festivals for global brands in China and is known as China Black day. A total of 4,239 brands participated of which 28 were private label brands.

OG launched a new retail showroom

On August 27, 2021, Onion Global Limited (OG), launched the first New Retail showroom in Guangzhou, “ZIPLAB”. ZIPLAB is positioned as a multi-super brand store presenting various fashion categories.

ZIPLAB will create a completely fresh shopping experience by introducing a new retail concept of “Three to One”, which entails in-store + online show + live broadcast experiences. The flagship store in Guangzhou initially aims to display more than 200 popular brands in the store.

Partnership with Aurora Mobile

On July 21, 2021, Aurora Mobile Limited (JG) entered into a partnership agreement with Onion Global Limited (OG) to jointly promote the development of next-generation lifestyle brands. Aurora Mobile will help Onion Global drive omni channel marketing and distribution, monetize brand curation and enhance the online shopping experience.

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The recent news about LUCA Elite Club was the reason behind its exceptional gains on Thursday but we have no idea, why did it lose in the after-hours on Thursday. we hope that it will return towards positivity in the coming trading sessions.

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