Why Dave Shares Are Surging After Hours

Dave Inc DAVE shares are surging in Monday's after-hours session after the company reported financial results and announced a strategic partnership with FTX.

Dave said fourth-quarter operating revenue totaled $41.2 million, which was up from $35.5 million in the fourth quarter of 2020. The company reported a quarterly net loss of $15.2 million, compared to a net loss of $34.6 million in the fourth quarter of 2020.

Dave announced a strategic partnership with West Realm Shires Services, which is the owner and operator of FTX US. The companies plan to work together to expand the digital assets ecosystem. FTX Ventures also invested $100 million in Dave. 

Dave operates a banking app that offers financial insights, overdraft protection, credit services and more.

DAVE 52-Week Range: $3.95 - $15.34

Dave shares were up 23.7% in after hours trading at $12.71 at press time.