Digital Brands Group, Inc. (DBGI) shares fell 30.44 percent, losing $0.3799 to $0.8701 on Thursday despite the company announcing that Chief Executive Officer Hil Davis purchased an additional $700,000 worth of shares in the open market.
The stock is currently trading at $0.8701, compared with its previous close of $1.2500 on the Nasdaq. During the session, it opened at $1.4300 and traded between $0.7987 and $1.4700. Trading volume reached 11.43 million shares, well above its average volume of 4.68 million shares.
The purchase was intended to demonstrate management's confidence in the company's strategy and future growth prospects. Davis stated that the investment reflects his belief in the company's short- and long-term vision, as well as its efforts to drive revenue growth and move toward profitability in the second half of the year.
Digital Brands Group shares have traded between $0.2580 and $18.00 over the past 52 weeks.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.