Glory Star Stock (NASDAQ:GSMG) surges on subscription agreement

Rwanda releases UPDF soldier of Special Forces Command two months after his arrest

Rwandan government on January 22 released an Uganda People's Defence Forces (UPDF) soldier attached to the elite Special Forces Command (SFC) two months following...

Tigray: Ethiopian army trying to eliminate security forces, says military officials

A year behind the outbreak of the war in Tigray, Ethiopia, the United Nations Security Council has not acted till now. The country's condition...

Failure in talks between Kenya-Dubai leads to continuation in flight ban

The ban on flights between Kenya and the UAE (United Arab Emirates) will continue after the two fail to reach a peace of agreement...

Public harassment blows wave of solidarity among women in Egypt

Persecution, prosecution, and public shaming have blown a new wave of solidarity among women in Egypt. Each morning, one of the women, 'Mona Eltahawy,' post...

Meme stocks have taken centerstage ignoring fundamentals and simply surging on community participation and viral buzz. Could that be the destiny for Glory Star New Media Group Holdings Ltd (NASDAQ: GSMG)? On Friday, the company announced it entered into a subscription agreement to purchase up to $10 million in ordinary shares and warrants at a fixed combined purchase price of $3.50. This news was enough for traders and investors to flock into the stock with more than 2,127,349 shares exchanged hands compared to an average volume of 2.06M and a market cap of over $180.52M.Glory Star New Media Group Holdings Limited (GSMG) opened at $2.1600 and traded between the range of 2.1300 – 2.8300. The stock currently has a 52-week range of 1.2800 – 4.8600. As per the news release, each warrant will be exercisable immediately and will expire one year from the date of issuance. The company will be using the net proceeds from the offering primarily for working capital and other general corporate purposes. The first closing of the offering is expected to close around Aug. 30.

Glory Star New Media Group Holdings Ltd. engages in the provision of advertisement and content production services. It operates through the following segments: Cheers APP Internet Business and Traditional Media Business. The Cheers APP Internet Business segment is an e-commerce platform in which shoppers can access multiple segments such as online store (e-Mall)live streaming shows original short videos and online games. The company was founded on February 52018 and is headquartered in Beijing China.

Rwanda releases UPDF soldier of Special Forces Command two months after his arrest

Rwandan government on January 22 released an Uganda People's Defence Forces (UPDF) soldier attached to the elite Special Forces Command (SFC) two months following...

Tigray: Ethiopian army trying to eliminate security forces, says military officials

A year behind the outbreak of the war in Tigray, Ethiopia, the United Nations Security Council has not acted till now. The country's condition...

Failure in talks between Kenya-Dubai leads to continuation in flight ban

The ban on flights between Kenya and the UAE (United Arab Emirates) will continue after the two fail to reach a peace of agreement...

Public harassment blows wave of solidarity among women in Egypt

Persecution, prosecution, and public shaming have blown a new wave of solidarity among women in Egypt. Each morning, one of the women, 'Mona Eltahawy,' post...

Nigerian extremists kills two and abducts 20 children, says residents

Nigeria: Extremist puts two people on the bounds of death and kidnapped 20 children in Nigeria's Borno state. The Islamist military igniting up more...

UN relief chief promises to support in uplifting Nigeria

The UN, humanitarian affairs chief, travelled to the Nigeria to see the humanitarian situation, see the northeast's reaction to raise international awareness about the...

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