Treasure Global (NASDAQ:TGL) stock is rising higher on Friday following an update on a stake in the e-commerce activities company by Vt Smart Venture.
According to a filing with the Securities and Exchange Commission (SEC), Vt Smart Venture now holds an 18.71% stake in Treasure Global. That comes from its 10 million shares held compared to the 53,439,309 shares outstanding.
Vt Smart Venture is a private limited company based out of Malaysia. Its investment in Treasure Global comes after the company held a stock offering in November 2023. Shares of TGL stock have been trading publicly since its initial public offering (IPO) in August 2022.
TGL Stock Movement on Friday
News of the investment in Treasure Global has the company’s shares experiencing heavy trading on Friday. That has more than 27 million units changing hands as of this writing. This is already well above its daily average trading volume of about 2.5 million shares.
Investors will note that TGL stock can be volatile due to its penny stock status. This comes from its 10-cent share price when markets closed yesterday and its market capitalization of $5.504 million.
TGL stock is up 21.1% as of Friday morning.
Investors who want even more of the most recent stock market stories are going to want to keep reading!
We have all of the hottest stock market coverage that traders need to know about on Friday! Among that is what has shares of Mesa Air (NASDAQ:MESA) stock up today, the biggest pre-market stock movers this morning and more. All of that info is ready to go at the links below!
More Stock Market News for Friday
- Why Is Mesa Air (MESA) Stock Up 67% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Housing Market Crash: Mortgage Rates Drop to 7-Month Low
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
