Pop Culture Group Co., Ltd (CPOP), a company that hosts entertainment events for corporate clients in China, has rocketed 44.16% in aftermarket trading session. Consequently, CPOP stock is trading at $3.33 at the time of the writing. On Tuesday, CPOP closed the day at $2.31 after soaring 35.88% during the regular trading session. The consistent surge has set in owing to the end of the company’s lock-up period.
Why CPOP Surging?
On Monday, i.e. 27th December, the Lock-up period for CPOP came to an end. Some of the Class A ordinary shares of the company were under a Lock-up agreement which was to end on Monday. The Lock-up started on 30th June 2021 and hence, would have remained under Lock-up for 181 days. As the Lock-up period came to an end, the stock price of Pop Culture Group started to show a solid trend and is continuing to do so since the time of writing.
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FY 2021 Operational Results
On 10th November, CPOP released the operational results for the fiscal year 2021. The year came to an end on 30th June 2021. The company generated net revenue of $25.52 million against $15.6 million for the year 2020. The total operating expenses bore by the company during the fiscal year were $1.39 million against $1.36 million for fiscal 2020. The net income generated by the company during the year was $4.26 million (or $0.25 per basic and diluted share) against $2.62 million (or $0.16 per basic and diluted share) for the fiscal year 2020.
Executive Commentary
While commenting on the results, Mr. Zhuoqin Huang, Chairman and Chief Executive Officer of CPOP said that despite the short-term impact on the company’s business in form of the COVID-19 pandemic, the company maintained a solid upward momentum during the fiscal year 2021. The company is pleased to see such outstanding performance and would continue to do so to become an industry leader.
Future Outlook for CPOP
The last three months have seen CPOP stock decline by more than 8%. But the more recent performance suggests that the stock can attract investors in huge volumes. Hence, potential investors should keep a close eye on the performance of CPOP stock.
