Cineverse is the new name of Cinedigm, which announced in March plans to rebrand.
The new name is designed to emphasize the company’s shift from providing digital equipment for movie theaters to streaming.
The company is also changing its stock symbol to CNVS, effective with the opening of the NASDAQ market on Tuesday.
Cinedigm To Launch Its Cineverse Of Brands On September 15
Also Read: Cinedigm To Launch Its Cineverse Of Brands On September 15
Cinedigm announced its name change at the same time it put in place a plan to purchase up to 10 million shares of its stock, which it saw as undervalued..
At the time, Cinedigm stock traded at 53 cents a share. Since March 7, shares have fallen by more than 50%. In early trading Monday the stock was up 0.65% to 29 cents a share.
