Creatd Inc (NASDAQ:CRTD) Stock Falls Again On Profit Taking: Now What?
Parent company of Vocal, Creatd Inc (NASDAQ:CRTD), a creator-first technology company on July 20,2021 announced completion of acquisition of controlling stake in WHE Agency, a public relations agency focused on management of family and lifestyle-focused influencers and digital creators. This comes after the firm had announced in mid-June regarding the proposed transaction.
The firm expects that the PR agency will add about $6.5 million in gross sales over a year, leading to net revenues of $1.2 to $1.5 million in the same period.
Creatd CEO Jeremy Frommer said that the firm wouldn’t be growing without platforms such as Vocal providing a new way to connect with audiences. Frommer added that just in the current year, brands anticipate total of $8 billion on creator-led influencer campaigns, which will jump to $15 billion by 2022.
WHE’s founder, Tracy Willis said that the company was established on influencer marketing and joining the Creatd family positions will amplify its footprint by expanding creator network and introducing new verticals.
WHE has 55+ family- and lifestyle-focused creators, including reputed talent like Jessica Skube, Youtube channel creator, Disney star David Henrie creator of OKbabyyoutubeSivertson, co-creator of Beauty &BeastonsYoutube channel Tiffani Rose Beaston as well as Youtube co-creators Rachelle and Justin. WHE’s influencer talent reaches combined audience of over 50 million followers.
Market Reaction:
On Tuesday, CRTD stock fell 4.56% at $3.98 with more than 4.79 million shares, compared to its average volume of 2.89 million shares. The stock has moved within a range of $3.7000 – 4.1599 after opening the trade at $3.96. Over the past 52-week, the stock has been trading within a range of $2.1000 – 7.8100.
