Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) is up 14% in a week. Recently the company announced the launch of three live streaming shows on the CHEERS e-Mall platform. The new streams include “the Big Brand,” CHEERS Foodies,” and “10 Yuan, Go!”
The new shows create a new live shopping experience for various shopping segments, including cosmetics, food & beverages, and daily necessities. So far, the company has seven different Livestream shows broadcasted every day on the CHEERS e_mall platform. Considering the high rates of sales conversion and viewership of the live shows, the company is increasing the competitiveness of the video-content eCommerce sector.
The “CHEERS Foodies” show is a live event promoting low-priced goods on the CHEERS e-Mall platform via partnerships among viewers and celebrity influencers. On the other hand, “The Big Brand” promotes cosmetic products from leading beauty brands while offering detailed evaluation and advice on different products to viewers. “10 Yuan, Go!” is an education program promoting inexpensive and high-quality necessities and daily products. Investors should keep an eye on GSMG.
Market Reaction:
On Monday, GSMG stock gained 9.36% at $1.8700 with more than 257k shares, compared to its average volume of 2 million shares. The stock has moved within a range of $1.7111 – 1.8900 after opening the trade at $1.7300.
