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SRAX Stock Surged 0.74% Today, Here’s Why 

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SRAX, Inc. (SRAX) is up 0.74% in the after-hours trading session at the price of $5.46 after the announcement of the issuance of a one-time special dividend to shareholders. SRAX, a technology company, unlocks data and insights for traded companies through Sequire. It uses different insights to engage potential investors across marketing channels.  

Issuance of One-Time Special Dividend 

On 13th September 2021, SRAX published about the issuance of a one-time shareholder dividend on the 20th September 2021. SRAX reported revenue of $7.7M in their second-quarter 2021 earnings report. It represents an increase of 557% year-over-year and 41% quarter-over-quarter. After the release of their earnings report, the company announced a $10M stock buy-back program and a one-time special dividend. Shareholders of record will be issuing non-tradable preferred shares by a company. The preferred shares worth about $6.5M of Sequire client’s stock and the proceeds will be distributed periodically to the preferred shareholders.  

SRAX Partnered with S3 to Integrate Short Interest Data 

On 25th August 2021, SRAX announced collaborations with S3 Partners, which is a leading financial data and analytics provider. The partnership aims to make better-informed decisions and provide users information about the impact of short interest and securities finance on the stock price. Sequire is an investor intelligence platform where the behaviors and trends of a company’s investors can be tracked through provided data. Its proprietary data sets provide issuers insights into who is buying their stock and at what volume.  

Chief Revenue Officer of S3 Partners, Palak Patel, remarked that they are happy to offer an integrated user experience to companies through Sequire platform. It enables them to access and utilize S3’s data and insights to engage with current and potential shareholders from multiple channels. The timely and quality information provided by this collaboration helps to level the playing field for corporate users, he added.  

Stock Buy-Back Program and One-Time Special Dividend 

On 17th August 2021, SRAX announced a stock buy-back program of$10 million and a one-time special dividend of $0.23 per share. SRAX will issue preferred shares to its shareholders on 20th September 2021. The preferred shares worth $6.5M of Sequire stock and the proceeds will be distributed to the preferred shareholders. CEO of SRAX, Christopher Miglino, commented that they are thrilled to reward this dividend to their shareholders. Buying back shares of SRAX is a beneficial opportunity for shareholders and the company, he added. 

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