Several developments within the apparel company Digital Brands have led to shares of DBGI (Apparel Company Digital Brands) soaring in prices. Let’s examine if the current stock price is a wise investment considering that DBGI posted a disappointing second quarter. Read on.Direct-to-consumer apparel seller Digital Brands Group, Inc. (DBGI), which is based in Austin, Tex., made its stock market debut on July 22, 2021, going public via the traditional initial public offering method and adding $10 million to its cash supply. DSTLD was launched on Amazon (NASDAQ : Prime) and the company also introduced its affiliate program for all brands. Over the past month, the stock has gained 22.1% in price to close yesterday’s trading session at $3.53.

The stock’s price has fallen by 22.3% over the last three months. It is now trading at 59.9% under its 52-week high, $8.80. This was achieved on July 8, 2020.

DBGI was able to raise $5 million and $1.50 millions, respectively, by issuing senior secured convertible promissory note to Oasis Capital, LLC, and FirstFire Global Opportunities Fund, LLC. Furthermore, ongoing labor shortages and supply chain disruption make the company’s near-term prospects uncertain.

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