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Remark Holdings, Inc. (MARK) Stock Surged 8.73% Pre-Market, Here’s Why

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Remark Holdings, Inc. (MARK) stock soared 8.73% in the pre-market trading session at the price of $0.91 despite no fundamental updates. MARK provides an integrated suite of artificial intelligence AI solutions that help organizations and enterprises solve issues, downsize risk and deliver positive results. It’s AI products are available in a broad range of applications within the financial, retail, public safety, and workplace arenas.

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MARK Partnered with isMedia

On 13th December 2021, MARK declared a partnership deal with isMedia to establish a non-fungible token platform. The NFT platform launched with the first drop anchored by the intellectual property collection of its subsidiary, Bikini.com. The NFT platform has expected to launch in early 2022 and works in accordance with the company’s AI technology. The initial phase of this platform will feature collectible NFTs from influencers of Bikini.com. Future offerings will possess drops from performers, entertainers, anchors, singers, and international celebrities.

Management Comments

Chairman and Chief Executive Officer of MARK, Kai-Shing Tao, remarked that isMedia had created a user-friendly NFT mobile application that delivers iterative, rapid, realistic designs with superb realism and greater adaptability. The NFT platform will host unique content of performers, entertainers, and iconic figures who made records with their characters and intellectual property. Moreover, the platform will leverage comprehensive designs and brand equity maintained by Bikini.com.

Chief Executive Officer of isMedia, Ju Sung Myung, commented that they were eager to collaborate with MARK to leverage their technical capacities and monetize the intellectual properties possessed by Remark. MARK has a long history of leading investment in the NFT space and innovation in cutting-edge technology. The company has dedicated to compiling unique content and offering a user-friendly platform interface for all clients, he added.

MARK Received $30M Debt Financing

Earlier on 6th December 2021, MARK reported signing a $30M debt financing deal with Mudrick Capital Management. The company intends to use the financing to reimburse debts and liabilities, fund working capital for ongoing projects, and support new business initiatives. The funds will be invested in infrastructure, data analytics, and security of Metaverse businesses.

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