Why Eightco Stock Is Falling Today

Eightco Holdings OCTO shares are trading lower after the company reported FY22 financial results.

What To Know: On Monday, Eightco reported its full year financial results and provided a business update for the year ending Dec. 31, 2022.

Eightco provided guidance, projecting FY23 revenue of $60 million.

Eightco also announced the completion of its acquisition of Forever 8 and completed the spinoff from Vinco Ventures this year.

"By divesting certain of our non-core operations and adding to our inventory solutions business, we believe are well-positioned for future growth and will continue to invest and expand our strategy to assist clients in the e-commerce environment," said Brian McFadden, CEO of Eightco. holdings.

Eightco Holdings Inc. is committed to growth focused around its existing subsidiaries, Forever 8, an inventory management platform for e-commerce sellers, and Ferguson Containers, a provider of complete manufacturing and logistical solutions for product and packaging needs, through strategic management and investment.

According to data from Benzinga Pro, Eightco. Holdings stock was down 13.9%, trading at $2.54 at the time of publication. The stock has a 52-week high of $4.46 and a 52-week low of $1.61.