Deepverge PLC (LON: DVRG) share price is down 28.4% over the past month after the life sciences company reported a higher loss over the first half of 2021 driven by rising costs even as its revenues surged higher.
The company today announced a new partnership with Media.Monks, a creative digital media company, to help it roll out its digital brand communication strategy for its Skin Trust Club (STC).
Medi.Monks will help Deepverge launch a digital-first campaign on popular social media platforms to market its Skin Trust Club hyper-personalised test results that create unique skincare routines for users of its smartphone apps.
However, Deepverge shares barely moved to oscillate between minor gains and losses as investors remained undecided on whether to buy or sell the company’s shares.
Most Deepverge shareholders hope that the latest downtrend will end soon as the firm releases more positive updates to appease investors and the markets.
Deepverge remains on a steep growth path as it seeks to expand across its business divisions, resulting in higher operations costs associated with hiring new staff members and developing new products and services.
The company reported a pre-tax loss of £2.6 million in H1 2021 compared to a £1 million loss in a similar period last year, despite its revenues surging to £3.3 million, up from £1 million last year.
Investors seem to be expecting the losing streak to extend into H2 2021, which explains the massive downtrend that has been in place to date.
Niamh O'Kennedy, Skin Trust Club’s Group Marketing Officer, commented: “Genetic test results from Skin Trust Club members own skin microbiome have clearly demonstrated both physical and scientifically proven improvements, which help our customers get to know their skin better so they can look and feel their very best.
“We look forward to working with Media.Monks to define and encapsulate this ethical skin revolution through an end-to-end strategy with their creative, highly personalised and targeted campaign.”
Gerry Brandon, Deepverge’s CEO, said at the time that he expects the second half of 2021 to be better than the first, just like it has been since 2018.
Investors looking to buy Deepverge shares might find its current price very attractive given that the shares are trading off the 20p long-term support level, providing an excellent trade setup.
*This is not investment advice.
Deepverge share price.
Deepverge shares are down 28.36% over the past month, falling from a high of 31p on 15th September to their current price.
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