LCID - DBGI Stock: The Amazon Prime Deal That Has Digital Brands Investors Cheering Today
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Digital Brands (NASDAQ:DBGI) stock is gaining on Thursday thanks to a deal bringing it to Amazon (NASDAQ:AMZN) Prime.
A news release from the company explains that it launched its DSTLD brand on Amazon Prime. The company offers up a “curated collection of luxury lifestyle, digital-first brands,” for customers to purchase and enjoy.
According to Digital Brands, this deal is better than it acting as a third-party seller on Amazon. This has it expecting both short-term and long-term benefits from listing on Prime. In addition to this, the company notes that its brand store will launch on Amazon over the next three days. This will include videos and branded content from the company.
Hil Davis, CEO of Digital Brands, said the following about the Amazon Prime deal moving DBGI stock today.
“We are excited to finally move into our growth phase, and believe these programs will show the power of our platform and the growth opportunity for Q4 of 2021 and 2022.”
DBGI is running higher today with heavier-than-normal trading of its stock. This has some 98 million shares being traded as of this writing. That’s a major increase over the company’s daily average trading volume of about 2.3 million shares.
DBGI stock was up 56.8% as of Thursday afternoon.
There’s more stock news for today below!
InvestorPlace has all the latest stock market coverage that traders need to know about for Thursday. That includes why Triterras (NASDAQ:TRIT) stock is soaring, details on Volt Equity ETF (NYSE:BTCR), as well as a date Lucid Motors (NASDAQ:LCID) shareholders should keep in mind. You can find all that info from the following links!
More Stock Market News for Thursday
- TRIT Stock: The News That Has Fintech Play Triterras Soaring Today
- BTCR ETF: 10 Things to Know as the Volt Equity Bitcoin ETF Starts Trading
- LCID Stock Holders, Mark Your Calendars for Nov. 15
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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