Remark Holdings, Inc. (MARK) is a leading company developing artificial intelligence-based solutions for consumers. It enables the organizations for solutions of their problems, reduction in risk, and delivery positive results. The company’s products are easy-to-install and used in various sectors. The company also operates ecommerce solutions based on digital media properties.
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The price of MARK stock during the regular trading on January 6, 2022, was $1.03 with a tremendous gain of 11.0%. At last check in the aftermarket, the stock further swelled by 8.74%.
MARK: Events and Happenings
On December 13, 2021, MARK reported about the finalization of a partnership deal with isMedia for the launch of a non-fungible token program. NFT program works in aggregation with the company’s AI-based technology. NFT will be launched in early 2022. It will display collectible NFTs from its subsidiary’s influencers.
On December 6, 2021, MARK reported the finalization of a deal with Mudrick Capital Management for $30 million debt financing. It was utilized to pay off liabilities and debts of the company, availability of working capital for running ventures along funding in security and data analytics and infrastructure. The financing also supported the company’s NFT and metaverse business.
MARK: Key Financials
On November 15, 2021, MARK reported its financial results for the third fiscal quarter ended September 30, 2021. Some of the updates are as follows.
Revenue and Assets
Revenue collected for the third quarter of 2021 was $1.2 million as compared to the same quarter of 2020 when it was $2.6 million. Total current assets for Q3 2021 equaled $92 million.
Net Income per Share
Net income per diluted share in the third quarter of 2021 totaled $72.7 million, or $0.72 per share, as compared to the same period prior year when net income was $4.4 million, or $0.04 per share.
On November 15, 2021, MARK reported about its collaboration with Brightline to implement the company’s Smart Safety Program for unlawful invasion recognition along with the incorporation of AI in other technologies. Brightline is the sole provider of eco-friendly and modern intercity rail.
On October 12, 2021, MARK reported about launching an upgraded KanKan AI program envisioned to meet educational transformation and technology needs for campus management at schools. The company also reported about the growth of its distributor network, by the addition of five resellers to its team.
Conclusion
Although MARK stock is 36% down the past six months, yet the company is in good shape and form to attract investors and stockholders. The current aftermarket rise is due to an uncertain market environment that proved to be favorable for the company.
