PLBY Group Inc. (PLBY) shares gained 4.50% in after-hours on Wednesday, November 17, 2021, and closed at $39.50. However, in the regular trading session, PLBY’s stock lost 7.42%. PLBY shares have risen 276.12% over the last 12 months, and they have moved up 21.62% in the past week. Over the past three months, the stock has gained 83.32%, while over the past six months, it has declined 17.23%.
Let’s have a look at its recent news and developments
PLBY recent financial results announcement
On November 15, 2021, PLBY Group, Inc. announced financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- Total revenue of $58.4 million in Q3 2021 compared to $35.0 million in Q3 2020.
- Total cost and expenses were $63.86 million in Q3 2021 compared to $30.7 million in Q3 2020.
- Total non-operating expenses were $3.7 million in Q3 2021 compared to $3.3 million in Q3 2020.
- It suffered a net loss of $7.7 million in Q3 2021 compared to a net loss of $1.3 million in Q3 2020.
- Adjusted EBITDA was $5.2 million for Q3 2021 compared to $7.3 million in Q3 2020.
PLBY new NFT project
On October 20, 2021, PLBY Group, Inc. announced its newest collection of NFTs known as Playboy Rabbitars. Playboy will release 11,953 unique Rabbitars, 3D rabbit characters, in NFT form.
Each Rabbitar will possess unique traits and will serve as keys to a reimagined Playboy Club, giving owners access to benefits like special members-only events, merchandise, artwork, and exclusive artist collaborations.
PLBY acquired Dream
On October 18, 2021, PLBY Group, Inc. entered into a definitive agreement to acquire Dream, a social content platform that provides creators with tools to interact directly with their fans. The platform and its development team will serve as the technology foundation for the launch of Playboy’s new curated and creator-led site, CENTERFOLD.
PLBY Group will acquire100% of the equity of the company which owns Dream, for a purchase price of up to approximately $30 million. The deal is expected to be closed by Q4 2021.
PLBY expansion in India
On August 16, 2021, PLBY Group, expanded its global consumer products and lifestyle business in India, in partnership with Jay Jay Capital and Investments. The new partnership will bring Playboy hospitality experiences to major metropolitan areas in India, with the first flagship venue expected to open in Gurgaon in December 2021.
Conclusion
Well, as of this writing there is no recent news which could be linked with its mixed performance on Wednesday. We are not sure how it will perform on Thursday.
