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      TGL Stock: What Drove Treasure Global Higher?

      By Fahim Awan

      Published on

      October 25, 2023

      5:28 PM UTC

      TGL Stock: What Drove Treasure Global Higher?

      Treasure Global Inc. (NASDAQ: TGL) shares have seen a remarkable surge, rising by 17.81% to $0.47 in the current trading session Wednesday. Within today’s trading activity, a substantial volume of more than 1.45 million shares of Treasure Global changed ownership. This surge in TGL stock price coincides with a noteworthy declaration of ownership interest by an offshore entity.

      In a disclosure to the Securities and Exchange Commission (SEC), it has been filed that AI Lab Martech Sdn Bhd, a privately held corporation domiciled in Malaysia, now possesses over 10% ownership in Treasure Global. AI Lab currently holds a total of 2,943,021 TGL shares, which translates to a 14.49% stake in TGL based on the 20,317,579 shares outstanding as of September 25, 2023.

      Furthermore, Treasure Global has embarked on a transformative journey into the realm of e-commerce. This paradigm shift was achieved through the introduction of an artificial intelligence (AI) robot tailored for conducting extended-hour live commerce sessions on the TikTok platform. This groundbreaking development not only propels Treasure Global’s subsidiary, ZCITY, to unprecedented heights but also heralds a revolution in the way businesses engage with their audience on TikTok, the world’s most bustling live commerce hub.

      The advent of TikTok Live Commerce represents an unparalleled opportunity for Treasure Global’s subsidiary to diversify its revenue streams and present its products in a fresh, engaging manner. With the acquisition of cutting-edge technology from Tencent, ZCITY has taken a significant stride towards crafting its very own live commerce robot, adept at seamless interaction with viewers through a chatbox interface.

      ZCITY’s live commerce robot, driven by advanced AI technology, stands as a pioneering model, showcasing products and services in real-time on the TikTok platform. This innovative marketing approach not only captivates the TikTok community but also cultivates a dynamic and immersive shopping experience for the viewers.

      This watershed moment for Treasure Global and its subsidiary, ZCITY, with its innovative AI robot, promises to redefine the e-commerce landscape within TikTok. Furthermore, it signifies Treasure Global’s unwavering commitment to innovation and technological advancement, which continues to mold the future of e-commerce and enhance the way businesses and customers connect in the digital era.

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