Gold.com's stock plummeted 6.08% during intraday trading on Thursday, reflecting significant selling pressure on the shares.
The decline coincided with reports that two company directors, Jess M. Ravich and Beverley Lepine, filed disclosures regarding the disposal of their common shares in Gold.com Inc. Such insider selling activity can influence market sentiment toward the stock.
Furthermore, the broader gold mining sector faced heavy selling pressure intraday. Spot gold prices fell over 3%, driven by unexpectedly strong U.S. jobs data which dampened market expectations for near-term interest rate cuts from the Federal Reserve. This macroeconomic factor negatively impacted the entire sector, contributing to the downward move in Gold.com's share price.