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Liquid Media Group Ltd (NASDAQ:YVR) Stock Falls On Profit After The Big Jump: What Now?

Liquid Media Group Ltd (NASDAQ:YVR) dropped 10% on profit-taking after jumping 40% last week. The company released its Q2 2021 financial results for the quarter ended May 31, 2021, in which net loss was CA$2.06 million. Revenue dropped from CA$7.54K last year to CA$1.7K during the quarter. 

Also, the gross loss dropped to CA$161,690 from CA$170,830  in Q2 2020, which resulted from Liquid Media incurring fewer costs in creating content.

The stock had jumped early in the week without any company-specific news reports, but external factors were at play. In April, the company announced a client partnership with digital payments provider CurrencyWorks and financial blockchain tech pioneer NFT to create the NFTainment.io platform.

The company announced that it would unveil Red Carpet via the NFTainmnet.io platform in the summer.  Last week the stock jumped following speculation activity by Reddit traders. Speculation that GameStop will deploy NFT soon led to Liquid Media getting the hype. So, YVR is a stock worth watching in the coming weeks.

Market Reaction:

On Monday, YVR stock slumped 9.91% at $2 with more than 6.34 million shares, compared to its average volume of 5.36 million shares. The stock has moved within a range of $1.8500 – 2.1100 after opening the trade at $1.98. Over the past 52-week, the stock has been trading within a range of $1.3100 – 7.5000.

Published by Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.

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