Why Is Treasure Global (TGL) Stock Up 21% Today?


  • Treasure Global (TGL) stock is climbing higher alongside an investor taking a stake in the company.
  • Vt Smart Venture has acquired 10 million shares of TGL stock for an 18.71% stake in Treasure Global.
  • This news brings with it heavy trading of TGL shares on Friday.
TGL Stock - Why Is Treasure Global (TGL) Stock Up 21% Today?

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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

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/01/why-is-treasure-global-tgl-stock-up-21-today/.

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