Hey everybody, Dave Bartosiak with Trending Stocks at Zacks.com. Somewhere up in the sky, Hugh Heffner is smiling down on the stock market. The PLBY Group PLBY, which touts itself as a leading pleasure and leisure lifestyle company, is back in hands of investors. Only this time, it’s not for the articles. You see, when the NFT or non-fungible tokens fad popped up on the scene, this group took center stage. If the NBA can sell a Top Shot of a Lebron flop, then certainly Playboy has a few assets it could tokenize. This potential helped the stock run up from the teens in March over $60 a couple months later, making it Miss May on everyone’s calendar. While the stock did reel in to the low $40s, it’s in the news again today.
The company commenced an underwritten public offering of 4 million shares of common stock, along with a 30-day option to purchase an addition 600,000 shares at the offering price. With somewhere around 33.8 million shares outstanding before the news, that gives a dilution of about 13%. PLBY shares gapped down to $47 on the open following the news but have since shot off the bottom to recover a good chunk of that move over $50. Let’s take a quick look at Zacks.com to see if this is a stock to buy on this dip.
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PLBY Group, Inc. (PLBY) : Free Stock Analysis Report
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