The stock of PLBY Group, Inc. (PLBY) gained in the pre-market after the company announced in a press release today that they have launched Centerfold. The stock valued at $29.70 at the time of this writing gained more than 3.99% from the previously closed value. At the end of the last trading session, the stock closed at $28.56. The volume of the stock traded in the last trading session was 1.82 million shares.
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Reason for the PLBY stock gain
PLBY Group, Inc. (PLBY) in a press release on 21st December 2021 announced that they have launched CENTERFOLD today. This platform will allow the top creators of the world to interact with their fans directly and expand their communities as well as to build their own personal content and commerce business.
The community of the founding creators has hundreds of millions of social media follower. The founding launch creators of CENTERFOLD include Cardi B who is the platform’s founding creative director, Lana Rhodes, Amanda Cerny, Gigi Goode, Ana Foxx, Elsa Jean, Keegan Whicker, Leila Leilani, Kate Amouranth, James Maas. Also, it includes various Playmates like Ashley Hobbs, Chasity Samone, Carolina Ballesteros, Haailee Launtenbach, Yoli Lara, Khrystana, Valarie K, and Izabela Guedes.
CENTERFOLD creators can offer subscriptions for personal content to fans; fans can send direct messages to their favorite creators and interact. The platform will continue to expand in the future and will offer merchandise design of highly sought features, production and capabilities of distribution, production of the digital content, live streaming as well as blockchain integration.
Effect on the stock
With this major development in the progress of the company and its expansion into new business by partnering with leading creators from the different sections of the entertainment industry, the company is expected to bring a great revenue streams. Investors have responded positively to the news of this development and are expecting that this diversification could increase profitability and can result in capital gain in the future.
Conclusion
The PLBY Group, Inc. (PLBY) has customers around the world that offer different services and products to them. With this diversification, it could increase its business and productivity by offering digital services.
