FreeCast Extends Rally After DIRECTV News, CAST Risk Stays High
FreeCast, Inc. kept up its wild swings on Monday morning. Shares jumped 140.68% Friday, closing at $1.55 on 211.1 million shares traded. CAST started that day at $0.598 and hit $2.00. In Monday’s premarket, the stock was quoted at $5.26, rising 239.35% from Friday’s close, StockAnalysis showed. FreeCast triggered the move with a June 11 announcement saying its direct-to-consumer residential unit and PaaS partners, such as telecoms, broadband, wireless, property managers and hospitality, can now offer DIRECTV. “DIRECTV is one of the most recognized entertainment brands in America,” CEO William Mobley said. FreeCast positioned DIRECTV as a possible recurring-revenue stream, but the statement gave no details on financials, subscriber targets or timing for major revenue.