SeaChange International Inc. (SEAC) stock drops in after-hours ahead of its financial results

SeaChange International Inc. (NASDAQ: SEAC) stock gained by 128.81% at last close whereas the SEAC stock price declines by 13.95% in the after-ours trading. For operators, content companies, and broadcasters around the world, SeaChange International gives world-class video streaming, linear TV, and video advertising technologies.


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Significant Upcoming Event

On 14 Dec, 2021 the company is all set to announce its financial results for the third quarter of fiscal 2022. A conference will be held by the management to discuss the financial earnings however the results will be released before the call.

What’s happening?

According to an insider who is familiar with the situation, Triller which is a social-video platform that competes with TikTok, is in discussions to go public through a combination with Seachange International Inc. A deal might be revealed as soon as this week, according to the source, who asked anonymity due to the confidential nature of the discussions. According to PitchBook, a sale is expected to value Triller at a higher level than its most recent estimate of $1.25 billion. It’s likely that negotiations may break down at the last minute.

Representatives of both Triller and SeaChange have not made any comments on this rumor as of yet.

Moreover,

Headquartered in Los Angeles Triller claims that their patented artificial intelligence technology allows people to upload short-form films with audio and filters, similar to TikTok. According to the app’s webpage, ex US President Donald J. Trump, Justin Bieber, and Alicia Keys are one of its confirmed users, and the app has been installed 250 million times.

Trump went to Triller in the beginning of this year after being removed from Twitter. Trump has entered into a contract with a special purpose acquisition firm that is supporting the establishment of a social media network called as Truth Social. Recently in his post on Triller he damned the Capital riots in January.

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