Pop Culture Group stock surged 44% in premarket trading.
Pop culture group shares Popped nearly 900% this week.
- Pop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.
- Its goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”
- This has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.
- Pop Culture launched its IPO Wednesday that put shares of CPOP stock on the Nasdaq Exchange.
- This saw it offering 6.2 million shares of CPOP stock at a price of $6 each.
- That includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”
- While CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.
CPOP stock was up 97.7% as of Thursday.