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Thursday, May 19, 2022

Direct Digital Holdings Inc (DRCT) stock remains bullish in the pre-market. Here’s why

On 29 March 2022, Direct Digital Holdings Inc (DRCT) released the financial results for Q4 and the fiscal year 2021. The stock of DRCT skyrocketed after the press release. Direct Digital stock was trading at $2.58 before the end of the last trading session. The stock gained 12.17% from the previously traded session. Moreover, on the last check, the DRCT stock remained bullish in the pre-market and gained 33.72% to $3.45 per share. The firm also filed form 8-K with the SEC on 29 March 2022.

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On 9 March 2022, DRCT declared that its purchase side publicizing stage, Orange142, has been named advanced organization of record for the Pigeon Forge Department of Tourism. The town saw a financial effect of more than $2 billion from the travel industry in 2021, denoting a 100% expansion in Pigeon Forge’s general travel industry charge base during the most recent 5 years. The proposal for the following 5 years is to drive a gradual increase in the district’s new guest base, party size, and length-of-stay, as well as designated drives, to increment the travel industry from key business sectors. Orange142 puts resources into building associations with key partners, including the Tourism Advisory Board and nearby organizations to guarantee all areas are addressed properly.

Moreover, earlier in February 2022, DRCT declared the initial public offering. The company declared the evaluation of its guaranteed public offering of 2.8 million units, each comprising one unit of Class A stock and one warrant to buy one unit of Class A stock at a cost of $5.50 per unit. Direct Digital Holdings initiated trading on the NASDAQ platform with a ticker of “DRCT”, on 11 February 2022.

DRCT Financials

The firm released the results for Q4 and FY2021, on 29 March 2022. The main points of the results are

  • DRCT had revenue of $12.9 million in Q4 of FY2021 versus $6.6 million in the same period of the previous year. Moreover, the revenue in FY2021 was $38.1 million against $12.4 million in FY2020.
  • Further, the company had a total profit of $5 million in Q4 of FY2021 versus $3.4 million in Q4 of FY2020. Also, the total profit in FY2021 was $18.4 million versus $5.1 million in FY2020.
  • The total loss in Q4 of FY2021 was $2.3 million against $0.5 million in Q4 of FY2020. Also, the total loss in FY2021 was $1.5 million against $0.9 million in FY2020.
  • Besides, the firm had a loss of $62.34 and $44.09 per stock in Q4 and FY2021, respectively.

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