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      TD Holdings, Inc. (GLG) stock is soaring today, here is why? - Stocks Telegraph

      By ST Staff

      Published on

      November 24, 2021

      5:27 PM UTC

      TD Holdings, Inc. (GLG) stock is soaring today, here is why? - Stocks Telegraph

      The stock of TD Holdings, Inc. (GLG) declined by 1.51% in the current market in comparison to the previously closed value to reach $0.55. At the end of the previous trading session, the stock closed at $0.54. The average volume of stock traded in the trading session was around 2.92 Million.

      Major developments in the company:

      On 11 November 2021, TD Holdings, Inc. (GLG) announced that they entered into a security purchase agreement or SPA with their two affiliates plus some accredited investors for a private placement of its restricted common shares worth approx. $45.5 Million. The company plans to use the funds as working capital and meet other corporate expenses.

      TD Holdings, Inc. (GLG) also said that they are entering into a non-binding letter of intent or LOI with China’s leading trading platform for online-offline e-commerce commodities. TD Holdings, Inc. (GLG) showed intent to acquire between 30-65% equity interests of Shenzhen Tongdow Internet Technology Co., Ltd. Both the companies agreed on setting the value of STIT between $145 million to $180 million.

      Reason for the stock decline:

      For the past 5 years, the company is at a constant loss. This year’s first two quarters were profitable. The company made a profit for the first time in a while. The stock of the company was seen to be as low as $0.34 from the all-time high of $17.40. Previous two quarters’ profits are extremely good, which is bringing the trust of the investors back and the trading volume of the shares has increased significantly.

      Financial Highlights of 3rd quarter report:

      • Revenue of the company was reported to be $54.77 million. This is a 697% gain from the revenue of the same quarter of the last year.
      • Net income of the company was $0.46 million for the quarter ended on 30th September 2021.
      • Diluted EPS was zero.
      • The company had cash in hand and cash equivalents of $4.9 million.


      After reporting the continuous loss for the company, the last 3 quarters were comparatively better for TD Holdings, Inc. (GLG) because it reported a net income for the first time in a while. However, the financial analysts have forecasted the price to go up as high as $60. But this requires the company to be consistent with its performance.

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