Video delivery platform provider SeaChange Corporation Inc (NASDAQ:SEAC) saw its stock experience heavy action yesterday despite there being no news about the company. The stock attracted considerable attention in the pre-market session with gains of as much as 24%.
In this sort of situation, it might be a good move from investors to consider taking a look at some of the key events from the recent past. Back on June 10, the company announced its financial results for the first fiscal quarter for the period that ended on April 30, 2021.
SeaChange announced that its balance sheet continued to be strong and at the end of the quarter, it had $21.3 million in the form of cash and cash equivalents on its books. On the other hand, the company also noted that is expenses in the first quarter went down by as much as 9% on a sequential basis.
However, that was not all. The company also provide an update with regards to the fact that it managed to put in place a strategic roadmap that is made up of a number of phases. While there is no news about the company, investors could still keep the SeaChange stock in their watch lists this week in light of the gains yesterday.
Market Reaction:
As of 8:10, SEAC stock is trading higher by 24.50% to $1.30 in the pre-market session with 1.91 million shares traded hands.
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