Pop Culture Group (CPOP) Stock Soars in Pre-Market: Here's Why

Pop Culture Group Co., Ltd. (NASDAQ:CPOP) shares climbed 14.12% to $5.90 in pre-market session on Thursday.

On Wednesday, the stock of the Chinese entertainment and media company jumped 9.77% to close at $5.17, according to Benzinga Pro data.

Share Sale

The stock move follows Pop Culture’s Tuesday Securities and Exchange Commission filing disclosing a new share purchase agreement to sell up to 665,000 Class A ordinary shares to investor Shaorong Zheng at $3.00 per share. The total amount of the transaction is $1.99 million.

The sale falls under Pop Culture’s existing shelf registration, which the SEC declared effective Feb. 9.

According to the SEC filing, the offering is self-underwritten and being sold on a “best efforts” basis. Under the agreement, the investor can pay via wire transfer or on-chain transfer using USDT (CRYPTO: USDT) or another cryptocurrency acceptable to the company.

Trading Metrics, Technical Analysis

Pop Culture has a market capitalization of $5.21 million, a 52-week high of $390 and a 52-week low of $$3.06. The company has approximately 938,000 shares outstanding.

The Relative Strength Index (RSI) of CPOP stands at 81.09.

The small-cap stock has fallen 97.55% over the past 12 months.

Benzinga’s Edge Stock Rankings indicate Pop Culture stock has a negative price trend across all time frames.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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