Today’s Research Reports on Stocks to Watch: Differential Brands and PEDEVCO
NEW YORK, NY / ACCESSWIRE / June 28, 2018 / Both Differential Brands and PEDEVCO saw their shares tremendously explode in Wednesday trading. Shares of Differential Brands Group skyrocketed over 500% after announcing it would be acquiring the North American division of Global Brands Group Holding Ltd. On the other hand, shares of PEDEVCO soared over 650% after announcing the closing of a strategic investment earlier in the week.
RDI Initiates Coverage on:
Differential Brands Group Inc.
https://www.rdinvesting.com/report/?ticker=DFBG
PEDEVCO Corp.
https://www.rdinvesting.com/report/?ticker=PED
Differential Brands Group Inc. shares closed up a little over 500% yesterday on about 30.2 million shares traded. The stock hit a new high of $6.20 after the company, which owns brands such as Hudson, said it would be buying the North American division of Global Brands Group Holding Ltd. for $1.38 billion in an all cash transaction. The division is led by Jason Rabin. As part of the deal the company will acquire a big part of Global Brands Group's North American licensing business that has brands like Disney, Star Wars, Calvin Klein, Under Armour, and Tommy Hilfiger. Differential Brands Chairman William stated, "On behalf of the board, I am thrilled that we were able to structure a transaction with the Fung family to acquire one of the leading branded consumer soft goods companies in North America with a world class management team led by Jason Rabin. Jason and his team plan to invest significant capital into this transaction, which will transform Differential into a large scale North American branded platform." The transaction is expected to be completed in the third quarter.
Access RDI's Differential Brands Group Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=DFBG
PEDEVCO Corp. shares closed up an astonishing 659.62% on Wednesday with skyrocket volume. The stock traded roughly 20.5 million shares compared to an average trading volume of just about 136,000 shares. It was on Tuesday that the company said that it closed a strategic investment. The company said it entered into a series of transactions resulting in the satisfaction and retirement of substantially all of its existing debt, successfully erasing over $75 million in debt and replacing it with $7.7 million in three-year 8% senior note funded by a strategic investor, SK Energy LLC. According to the company, with the added transactions, it has increased its stockholders' equity by more than $64 million. CEO of PEDEVCO, Frank Ingriselli, commented, "I personally committed to the Board and our shareholders publicly that we would use our best efforts and dedicate the Company to finding a strategic investor that would allow the Company to not only restructure its balance sheet and regain compliance with NYSE American listing standards, but that would be aligned with our strategy of accretively developing the Company's existing assets and to also allow us to additionally focus on accretive acquisitions. We believe our new strategic investor, SK Energy, is the perfect partner to help us achieve all of these ends."
Access RDI's PEDEVCO Corp. Research Report at:
https://www.rdinvesting.com/report/?ticker=PED
Our Actionable Research on Differential Brands Group Inc. (NASDAQ: DFBG) and PEDEVCO Corp. (NYSE: PED) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
