Color Star Technology Co., Ltd. (CSCW) Stock Losing Momentum in Pre-Market, Here’s What’s Happening.

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DBGI Stock
DBGI Stock

Color Star Technology Co. Ltd., (CSCW) is focused on entertainment and education by providing digital entertainment platforms and digital music educational services. Online education is provided via the company’s Color World music and entertainment education portfolio.

The price of Color Star Technology stock during regular trading on February 15, 2022, was $0.88 with a phenomenal gain of 93.1%. At last check in the pre-market, the stock dipped by 31.84%.


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CSCW: Events and Happenings

On February 14, 2022, CSCW reported that its entertainment metaverse’s local Asian version will be released in late February. On February 10, 2022, CSCW updated that Dubai’s famous catering brand Lang Xian Catering will be included in the beta version of the metaverse portfolio Color World App at its launch on January 28th, 2022.

On February 7, 2022, CSCW announced that Color World software can be downloaded from IOS App Store. On February 3, 2022, CSCW updated that a comprehensive education company of Dubai, U-Shine Education Center joined its Color World. Both the companies entered into a strategic collaboration deal.

On February 1, 2022, CSCW reported that its subsidiary had entered a strategic collaboration with Thailand’s Jade Construction Group to join the Color World app. Both the companies agreed upon the integration of smart technology with the development and making a path for the real estate industry. On January 26, 2022, CSCW updated that its management participated at the Virtual Blockchain Conference by the investment bank Maxim Group on January 27, 2022.

On January 21, 2022, CSCW announced about a 16 million shares private placement at the price of $1 per share. The value of the placement was $16 million, to Hou Sing International Business, Ltd.

CSCW: Key Financials

On November 2, 2021, CSCW released its audited financial results for the fiscal year 2021 ended June 30, 2021. Some of the key highlights are discussed below.

CSCW: Revenue

Revenue in full FY 2021 was recorded to be $6.8 million compared to nil revenue in FY2020. The company observed an increase of 100% in revenue over the year and also significant revenue gain in the last three years.

EPS

Basic and diluted net loss per share in FY2021 was $8.23 million or $0.12 compared to $11.6 million or $0.99 in FY2020. The company observed an increase in EPS over the yearly period.

Conclusion

CSCW stock is 33% down the past year as a result of the pandemic. The company showed a giant leap in Monday’s trading session after its announcement of the release of an Asian version of the metaverse. The company declined in Today’s pre-market to shed its gain.

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