Why Digital Brands Group Shares Are Skyrocketing Today

Digital Brands Group Inc DBGI shares are trading higher by 70% at $6.95 on heavy volume after the company announced it's expanding its commerce ecosystem by launching a select group of brands on Amazon this Fall. The stock has been halted three times for volatility Thursday morning.

Digital Brands Group said in a press release it's excited to be finalizing an agreement with a marketing services firm that specializes in Amazon advertising, which the company believes will quickly and effectively provide additional brand awareness and bolster customer acquisition.

Digital Brands Group offers a variety of apparel through numerous brands on a both direct-to-consumer and wholesale basis. The company has expanded into an omnichannel brand offering the styles and content not only online but at selected wholesale and retail storefronts.

Digital Brands Group has a 52-week high of $7.09 and a 52-week low of $2.80.