Why PetVivo Holdings Inc. (PETV) Stock surge in the after-hours on Thursday?

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PETV Stock
PETV Stock

PetVivo Holdings Inc. (PETV) shares surged 4.48% in after-hours on Thursday, January 13, 2022, and closed at $2.80. However, in the regular trading session of Thursday, PETV’s stock lost 13.55%. PETV shares have fallen 78.39% over the last 12 months, and they have moved down 23.65% in the past week. Over the past three months, the stock has lost 10.37%, while over the past six months, it has plummeted 69.43%.

Let’s have a brief discussion about its recent news.


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PETV participation in the upcoming conference

PetVivo Holdings, Inc. (PETV & PETVW) will be exhibiting at the Veterinary Meeting & Expo Conference from January 15th to January 19th, 2022 at the Orange County Convention Center in Orlando, FL.

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PETV distribution agreement

On January 05, 2022, PetVivo Holdings, Inc. (PETV & PETVW) announced the distribution agreement with VetCove, Inc., according to whichVetCove, Inc. has agreed to distribute PetVivo’s therapeutic product, SPRYNG with OsteoCushion Technology. VetCove owns and operates a licensed veterinarian ordering/purchasing platform used by over 13,000 veterinary hospitals to compare prices and purchase medications, food, and veterinary supplies from multiple vendors at once.

PETV participation in the recent conference

PetVivo Holdings, Inc. (PETV & PETVW) recently participated at the H.C. Wainwright BioConnect Conference which was held on January 10-13, 2022. The company was presented by Chief Executive Officer, John Lai during the conference.

PETV launched Digital Media Campaign

On November 29, 2021, PetVivo Holdings, Inc. launched a digital media campaign, which includes the production, broadcasting, and distribution of technical interviews, commercials, and digital billboards ads. The digital media campaign was produced and organized by FMW Media Corp.

PETV will produce and broadcast at least 40 interviews, as well as the production of 30-second T.V. commercials. The digital campaign shall air on Newsmax TV, Bloomberg, Fox Business Network, and CNBC.

PETV latest financial results

On November 15, 2021, PetVivo Holdings, Inc. (PETV, PETVW), reported its financial results for the three and six months ended September 30, 2021.

Q2 2022 financial highlights

  • PETV reported total revenue of $4,977 for Q2 2022 compared to $4,790 in Q2 2021.
  • The cost of sales was $-0- and $350 for the three months ended September 30, 2021, and 2020, respectively.
  • The total cost of sales was zero in Q2 2022 compared to $350 in Q2 2021.
  • General and administrative expenses were $756,186 compared to $787,427 for Q2 2021.
  • Sales and marketing expenses were $235,767 for Q2 2022 compared to $35,580 in Q2 2021.
  • Research and development expenses were $116,380 for Q2 2022 compared to nil in Q2 2021.
  • It suffered a net loss of $1,105,474 or $0.13 per share in Q2 2022 as compared to a net loss of $1,348,002 or $0.23 per share for Q2 2021.

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Conclusion

Well, as of this writing, we have no valid reason for its decline in regular trading and later its gains in the after-hours on Thursday. Let’s see how it performs on Friday?

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