ATA Creativity (NASDAQ:AACG) Stock Pulls Back After The Recent Jump: Now What?
There was no news about ATA Creativity (NASDAQ:AACG) this past week but the price action in the stock was still quite interesting. This past Friday, the stock actually declined sharply and went down by 19%, however, it ended the week with total gains of 5% for the week.
There has been no news about the company for around two months now and hence, it is quite clear that there is not much for investors to look into. The last major development regarding the company was back in May 13, 2021 when the company announced its financial results for the fiscal first quarter and also hosted a conference call.
ATA Creativity is a global educational services firm and in the first quarter, it recorded a boost in student enrolment. As many as 964 students were enrolled with the company at the end of the first quarter and that reflected a year on year rise of as much as 41.6%.
On the other hand, the net revenues for the first quarter came in at $5.7 million and that reflected a year on year rise of as much as 15%. Investors could consider keeping an eye on any fresh news about the company in the coming days.
Market Reaction:
On Friday, AACG stock slumped 19% at $3.10 with more than 4.42 million shares, compared to its average volume of 865k shares. The stock has moved within a range of $2.4850 – 3.3500 after opening the trade at $3.15. Over the past 52-week, the stock has been trading within a range of $1.0100 – 19.7500.
