Cricut Inc
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Consumer Discretionary : Household Durables | Small Cap Growth
Company profile

Cricut Inc is a technology company that has designed and built a creativity platform that enables users to turn ideas into professional-looking handmade goods. Its connected machines, design applications and accessories and materials, its users create everything from personalized birthday cards, mugs and T-shirts to large-scale interior decorations and more. Its cloud-based software enables it to update the functionality and features of existing physical and digital products and to release new products that integrate with its platform. Its portfolio of connected machines cut, write, score and create decorative effects using a wide variety of materials including paper, vinyl, leather and more. It offers free design apps, in-app purchases and subscription offerings that enable its users to create and complete projects.

Closing Price
$19.17
Day's Change
-1.24 (-6.08%)
Bid
--
Ask
--
B/A Size
--
Day's High
20.99
Day's Low
18.97
Volume
(Average)
Volume:
387,056

10-day average volume:
400,388
387,056

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors StoneCo. Ltd. - STNE

11:46 pm ET November 25, 2021 (PR Newswire) Print

Pomerantz LLP is investigating claims on behalf of investors of StoneCo. Ltd. ("StoneCo." or the "Company") (NASDAQ: STNE). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

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The investigation concerns whether StoneCo. and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On August 30, 2021, after the market closed, Stone announced its second quarter 2021 financial results in a press release, reporting an 8.1% year-over-year decrease in revenue "mainly due to adjustments in credit fair value and significantly lower credit disbursements." The Company stated that it had "implemented some prudent actions, like temporarily stopping the disbursement of credit and increasing coverage for potential future losses, which impacted [Stone's] reported results for the quarter."

On this news, Stone's stock price fell $2.96 per share, or 6%, to close at $46.54 per share on August 31, 2021, damaging investors.

Then, on October 26, 2021, PAX Global Technology Ltd's ("PAX") Florida offices were raided by the U.S. Federal Bureau of Investigation, the Department of Homeland Security, and several other agencies as part of a federal investigation. According to an October 27, 2021 report by market analyst Viceroy Research, Stone states that PAX "is no longer [its] sole provider of POS [point of sale] services, [but the Company is] still substantially dependent on it to manufacture and assemble a substantial amount of [its] POS devices." Moreover, another company replaced its PAX terminals "because it did not receive satisfactory answers from PAX regarding its POS devices connecting to websites not listed in their supplied documentation."

On this news, Stone's stock price fell $2.64 per share, or 7%, to close at $33.81 per share on October 27, 2021

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:

Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 7980

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View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-stoneco-ltd---stne-301432259.html

SOURCE Pomerantz LLP

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comtex tracking

COMTEX_397748332/1005/2021-11-25T23:46:11

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