Paltalk Inc PALT is continuing to trade higher on abnormally high volume Thursday amid continued volatility in the low-float stock. The company also recently announced it engaged ClearThink to lead its expanded investor relations program.
The average session volume is about 2.8 million over a 100-day period. Wednesday's daily trading volume had already exceeded 80 million at publication time.
Paltalk recently announced that it has retained strategic advisory firm ClearThink Capital to develop and deploy a comprehensive investor outreach and communications program.
"We believe we are now ready to enter the next growth phase of our business, as we successfully achieved our Nasdaq listing, and have a strong balance sheet with $6.5 million cash and no long-term debt as of June 30, 2021 and subsequently raised approximately an additional $3.5 million in connection with our recent underwritten public offering,” said Jason Katz, chairman and CEO of Paltalk.
Paltalk is a communications software innovator. It operates a network of consumer applications where users can meet, see, chat, broadcast and message in real-time in a secure environment with others in the network.
PALT Price Action: Paltalk has traded as high as $15.20 and as low as 67 cents over a 52-week period.
The stock was up 29.70% at $10.84 at time of publication.
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