What Sparked Oriental Culture Holding's (OCG) 24% After-Hours Surge?

Oriental Culture Holding LTD (NASDAQ:OCG) surged 23.89% in after-hours trading to $0.014 on Tuesday.

Check out the current price of OCG stock here. 

According to Benzinga Pro data, the stock closed the regular session at $0.011, down 33.14%.

Special Cash Dividend Approved

The online collectibles and artwork e-commerce platform said its board approved a special cash dividend of 5 cents per share on Jan. 8, according to a filing with the Securities and Exchange Commission dated Jan. 12.

The dividend will be paid on Feb. 9 to shareholders of record as of Jan. 22.

All shareholders as of the record date will receive the dividend.

Management Commentary

Chief Executive Officer Yi Shao stated in the company press release: “After carefully considering the Company’s current operating needs and future growth plans, the Board has decided to distribute a portion of accumulated earnings from prior years to shareholders in the form of a special cash dividend.”

Shao added the dividend “represents our sincere appreciation to shareholders for their continued trust and support.”

Trading Metrics, Technical Analysis

Oriental Culture Holding has a Relative Strength Index (RSI) of 56.79.

OCG has fallen 99.07% over the past 12 months, underscoring a sharp long-term decline and signaling continued caution for traders.

The Hong Kong-based company has a market capitalization of $781,650, and its shares have traded in an annual range of $0.01 to $19.28.

The stock is currently positioned at approximately 0.005% of its annual range, indicating it is trading very close to its yearly low.

Benzinga's Edge Stock Rankings indicates OCG stock has a negative price trend across all time frames. Follow the performance of other companies in the same segment.

Photo Courtesy: g0d4ather on Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.