Global Diversified Marketing Group Inc. (OTCMKTS:GDMK) in a range after reporting financial results for the fiscal year ending December 31, 2021.
On Monday, GDMK stock ended flat at $0.20 with 9.9k shares, compared to its average volume of 2.1k shares. The stock moved within a range of $0.2000 – 0.2000 after opening trade at $0.20.
Global Diversified Marketing Group Inc. Reports Record Revenue Growth for 2021
The Company reported revenue of $2.665 million, representing a YoY growth of 60.5%. The Company had a gross margin of38.9% compared to 39.1% a year ago. Net loss was $1.214 million for the full year, and it included a stock-based cash compensation of $1.121 million paid to employees and consultants. Excluding these charges, the adjusted net loss was $92,287 relative to a net profit of $33,868 a year ago.
In 2021 the Company signed forayed into the nutraceutical segment, unveiled three new SKUs, reduced its dependence on invoice factoring, and unveiled a national club outlet in the Northeast. CEO Paul Adler said that the Company’s ability to produce results year after year has shown that it can operate efficiently and considerably grow revenues to record highs. He added that despite the impacts of the pandemic, the Company managed to post record revenues with steady margins. So in the coming weeks, GDMK is worth watching.
Paul Adler, Chairman, and CEO stated, “Our ability to deliver record results year after year has demonstrated that we can operate efficiently, as well as significantly grow our revenues to record levels, even during a difficult operating environment. Despite the effects of the Covid-19 pandemic, we were able to achieve record revenue growth in 2021, with steady gross margins.
GDMK stock is trading below the 10-Day and 50-Day Moving averages of $0.2055 and $0.2862 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.7756.