Where Is The Bottom? Cinedigm Corp (NASDAQ:CIDM) Reports YOY Growth for Users

Cinedigm Corp (NASDAQ:CIDM) stock has cooled off from session high and slipped into red. The stock has formed higher highs and higher lows over the past 2 weeks and moved up 30%. However, the stock is still down about 75% from its 52-week peak price of $6.

Market Action

As of 12:07, CIDM stock was down over 3% to $1.43. The stock has witnessed a total volume of over 14.38 million shares traded hands -1.50X its average volume of 33.05 million shares.  The stock opened at $1.45 and moved in a very wide range of $1.4200 – 1.5200.

Cinedigm Announces Significant Year Over Year Growth in Total Users and Minutes Viewed for the Month of April on the Dove Channel

  • announced today that the Company’s streaming service, Dove Channel, a leading site for faith and family programming, reported significant year-over-year growth for monthly users and minutes watched during the month of April.
  • The highest boost coming from minutes viewed which increased more than 85% year over year. Total users increased more than 72% year over year, signaling incredible consumer growth potential. As cord cutting continues, consumers are turning to the Dove Channel to provide them with family-friendly, uplifting content.
  • Dove Channel was created as a response to high consumer demand for audience appropriate titles, offering viewers safe programming options and full access to a vast library of high-quality, value-based films, children’s programs, documentaries, and series in the streaming marketplace. Some of the network’s most popular offerings include The Ultimate Gift movies, as well as A Christmas Kiss, Letters to God, and Left Behind: The Movie. Iconic series like The Lucy Show, Gumby, The Little Rascals and Madeline highlight Cinedigm’s dedication to catering to the entire family, young and old.
  • The service is available across North America in subscription, ad-supported and FAST offerings on connected TVs, digital set-top boxes, media-streaming devices, as well as the web. The streaming channel is live across the broader OTT landscape on distribution partners including Comcast, The Roku Channel, IMDB TV, Samsung, TCL, Tubi and many more.

Related Posts

About The Author