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Here’s What you Should Know About Tumbling Premarket Stock of Dogness (International) Corp. (DOGZ)

Dogness (International) Corp. (DOGZ) is a leading pet care company focused on the development of products for cats and dogs. The company manufactures hygiene, wellness, and health-related products for pets. Some of the products manufactured by the company include leashes, collars, harness, lanyards, muzzles, belts, ropes, name tags, toys, and feeders.

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The price of DOGZ stock during the regular trading on January 6, 2022, after a phenomenal decline of 61.90% was $3.33, At the last check in the premarket, the stock was further nose-dived by 9.31%.

DOGZ: Events and Happenings

On January 5, 2022, DOGZ reported about the expansion of the company’s product availability by one of the leading pet products retailers. The retailer will supply the company’s pet products online as well as in stores.

DOGZ: CEO Comments

Speaking at the occasion, DOGZ CEO Silong Chen stated that the current deal is ideal to display the company’s product line to the targeted consumers. He further added that the company started 2022 on a positive note and the company’s management is optimistic in its new year outlook.

On December 27, 2021, DOGZ reported about the popularity of its Discover Smart GPS Pet Tracker which was ranked 2nd popular product only after 3 weeks on the market. On December 22, 2021, DOGZ reported that it expanded its cooperation with a renowned global eCommerce company. The collaborator is dominant in the market with up to 500 million dynamic consumers.

On December 15, 2021, DOGZ reported that an independent investment research company namely Argus Research, reported its Equity Research Report coverage on DOGZ. Argus Research anticipated that the company will develop into a technology-focused company with a diverse international footprint.

On December 8, 2021, DOGZ reported that the company completed the product delivery to two important warehouse retailers. The process marked a large-scale rollout of the company’s products online and in stores. On November 24, 2021, DOGZ reported that its products were displayed on a top-notch retailer’s televised shopping platform.

On November 4, 2021, DOGZ reported about the completion of approximately $1 million in pet technology shipments to a leading retailer for its holiday demand.

DOGZ: Key Financials

On October 29, 2021, DOGZ reported its financial results for the fiscal year ended June 30, 2021. Key updates are as follows.

Revenue

Revenue for the year 2021 was $24.3 million as compared to the same period of 2020 when it was $19.2 million. The revenue increased by 26.9% over the year.

Net Income/Loss per Share

Basic and diluted net income per share for fiscal 2021 was $1.29 million or $0.05 per share as compared to the same period of 2020 when the net loss was $8.5 million or $0.33 per share.

Conclusion

Although DODZ stock is 62% up in comparison to the past six-month record, yet the stock is nose-diving in the regular as well as the recent premarket sessions probably due to the uncertain market conditions. The company is trying its best to attract potential investors in form of current top-notch collaborations but failed so far. The analysts are suggesting this situation to be alarming for the company and demanding further input from the company.

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