Blue Hat Interactive Entertainment Technology ( (BHAT) ) has provided an announcement.
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In the first half of 2024, Blue Hat reported a 71.76% decrease in revenues to $13.08 million, largely due to a decline in the glycol market. However, the company’s foray into the diamonds trading business contributed all of its revenue during this period, resulting in a significant increase in gross profit. The company also reported decreased losses from operations and continued operations, indicating a positive shift in financial performance. The strategic investment in gold is expected to enhance asset value and potentially boost future revenues, underscoring the company’s strategic pivot towards commodity trading.
More about Blue Hat Interactive Entertainment Technology
Blue Hat Interactive Entertainment Technology, based in Xiamen, China, is engaged in commodity trading, particularly in gold and diamonds, in addition to its previous focus on communication services and AR interactive entertainment. The company has been actively shifting its focus toward commodity trading, marking a significant transformation in its business strategy.
YTD Price Performance: -87.70%
Average Trading Volume: 1,053,284
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $7.18M
For a thorough assessment of BHAT stock, go to TipRanks’ Stock Analysis page.
