Professional Diversity Network Inc IPDN:NASDAQ

Last Price$1.22NASDAQ Previous Close - Last Trade as of 4:00PM ET 9/16/19
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Volume6.6 K

China's Professional Diversity Network Narrows Losses in 2018 from Year Ago, Plans to Tap Wellness Business - Stock Surges 7%

3:20PM ET 4/16/2019 MT Newswires
China's Professional Diversity Network (IPDN), which narrowed its losses last year, said on Tuesday its Jiangxi PDN Culture Media has signed a letter of intent to buy 51% of Zhejiang Xili Valley Tourism Development to tap into the health and wellness industry in China. It did not disclose the value of the deal.

IPDN said it plans to work with Xili on its Xili Valley project with about 333 acres land-use planning to develop a local health and wellness community.

Separately, IPDN reported its net loss from continuing operations narrowed to $14.6 million in 2018 from $21.6 million in 2017 as revenue fell to $8.5 million from $16.1 million over the same period. No analysts' estimate was available for the networking company.

Price: 3.44, Change: +0.18, Percent Change: +5.52