Over the past week, the Professional Diversity Network (NASDAQ:IPDN) endured a pretty tough time in the markets and saw its stock decline by as much as 14%. In this situation, it might be a good idea for investors to perhaps take a closer look at some of the recent developments.
Back on August 28, 2021, the company’s business unit International Association of Women hosted a virtual summit successfully. The summit was related to the subject of empowerment of women through simplification and eventually bettering their lives. While the event was a success for the company it did not lead to any fresh optimism about the stock and as mentioned above, it actually recorded losses.
In this context, it might also be a good idea for investors to perhaps take a look at the financial results of the company for the quarter that ended on June 30, 2021. The results had been announced on August 16, 2021. Professional Diversity Network managed to boost its revenues by as much as $0.5 million, which reflected a year on year rise of as much as 54%. The network revenues from the PDN Network actually went up by as much as $0.6 million year on year.