Creatd Inc. (NASDAQ:CRTD) Stock Continues to See Solid Buying: Time to Book Profit?
Creatd Inc. (NASDAQ:CRTD) jumped 31% after announcing that it has reached 30,000 Vocal+ users. It is vital to note that Vocal+ is the company’s premium subscription plan of its lead product, Vocal. The company introduced the plan early last year, around three years after the launch of the Vocal platform.
Combined, Vocal has more than one million freemium and Vocal+ subscribers in its creator community. CEO Jeremy Frommer said that they are projecting net revenues f $1 million in Q2 2021, which is three times increase from a year ago. In the next quarter, the company’s focus will be to bring new features that will improve its ability to acquire and retain creators.
Recently, Creatd announced closing an underwritten public offering of 750,000 common shares at $3.4 per share for total gross proceeds of $2.6 million. Equally, the company granted underwriters a 30-day option to buy an additional 112,500 shares of common stock under the same terms. So, in the coming months, CRTD is a stock to watch.
Market Reaction:
On Monday, CRTD stock surged 30.72% at $4.17 with more than 26.24 million shares, compared to its average volume of 2.46 million shares. The stock has moved within a range of $3.4900 – 4.5000 after opening the trade at $3.72. Over the past 52-week, the stock has been trading within a range of $2.1000 – 7.8100.
