Global-e Online Ltd. (GLBE) is a leading global e-commerce company with a market range to both international and domestic consumers. The company enabled the digital retailers in the enhancement of global traffic conversion to supply by offering digital customers a localized shopping experience.
The price of GLBE stock during the regular trading on January 19, 2022, was $38.76 with a slight surge of 0.6%. At last check in the premarket on January 20, 2022, the stock nose-dived by 10.99%.
GLBE: Events and Happenings
On January 04, 2022, GLBE reported about the closure of Flow Commerce Inc.’s acquisition. Flow is a tech-driven international digital software solution for evolving products. GLBE leveraged Flow’s technology to provide best-in-class solutions for small enterprises. The purchase will allow the company to expand its partnership with Shopify to offer its services to a broader range of customers.
GLBE: President Comments
Speaking at the occasion, the President of GLBE said that the purchase will allow the company to aid the emerging brands in the most patient way. He further added that by using Flow’s novelty, coupled with the company’s unique data models, the company will be able to align itself as a foremost solution for variable merchant size.
GLBE: Key Financials
On November 09, 2021, GLBE announced its financial results for the third quarter of 2021. Some of the key updates are as follows.
Revenue
Revenue in the third quarter of 2021 was $59.1 million compared to $33.3 million in the same quarter of 2020. The revenue showed an increase of 77% over the year.
Net Income/Loss per Share
Basic and diluted net loss for the third quarter of 2021 was $28.5 million or $0.19 per share as compared to a net income of $1.2 million or $0.01 per share for the same period of 2020.
On November 3, 2021, GLBE reported about entry into a partnership with Australia Post. The alliance is used to support the retailers to increase digital sales and improve cross-border e-commerce business. On September 15, 2021, GLBE reported about the closure of its secondary offering of 13,800,000 ordinary shares at a public price of $64.00 per share.
Conclusion
GLBE stock is in the declining mode for the past six months period primarily due to the overall pandemic prevalence globally. The current premarket dip of the stock is the result of the unfavorable market environment as proposed by the analysts. The company should take the necessary steps to attract potential investment or initiate new collaborations to sustain its stock price.
