What's Going On With Digital Brands Group (DBGI) Stock Today?

Digital Brands Group, Inc. DBGI shares are volatile Wednesday. DBGI effected a 1-for-25 reverse stock split on Tuesday.

What To Know:

Shares of DBGI are moving on heavy trading volume, and trading has been halted multiple times for volatility. According to Benzinga Pro, more than 322 thousand shares have been traded in the session, compared to the stock's 100-day average of 18,787 shares.

Last Thursday, Digital Brands Group released its second-quarter financial reports with earnings of 38 cents per share and revenue of $4.5 million, an increase of 69.6%.

"We are pleased to see the significant revenue growth and operating leverage since the acquisition of Sundry. In fact, based on wholesale bookings and current e-commerce trends, our third quarter and fourth quarter revenues will be meaningfully higher than this quarter," said Hil Davis, CEO of Digital Brands Group.

DBGI has captured the attention of retail investors and is currently on one of the top trending stocks on Stocktwits.

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DBGI Price Action: According to Benzinga Pro, Digital Brands Group shares are down by more than 3% at $10.70 at the time of publication.

Image: TheDigitalArtist from Pixabay