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TD Holdings, Inc. (GLG) stock is getting high in Pre-Market trading: What’s going on?

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Shares of TD Holdings, Inc. (GLG) were getting high in Wednesday’s pre-market trading amid the spread of news that GLG and its wholly-owned subsidiary Tongdow E-Trade Limited has signed the letter of intent with Chenzhou Dingmei Silver Co., Ltd to get the ownership of molybdenum copper ore in Kazakhstan. GLG stock price saw a jump of 14.80% to reach $2.25 a share as of this writing. GLG stock was up by 10.11% at the previous closing. Let’s understand more about the penny stock.

TD Holdings to become the owner of molybdenum copper ore in Kazakhstan.

TD Holdings, Inc. (GLG) mainly focuses on the new commodities trading business in the People’s Republic of China.GLG has signed the letter of intent pursuant to which the Chenzhou Dingmei will sell 100% molybdenum copper ore mine located in Kazakhstan to TD Holdings.GLG and Tongdow E-Trade will have the complete equity ownership of East Kazakhstan Group Company mentioned in the letter. An aggregate consideration of RMB 98 million in the form of shares and cash has been decided for this deal. The transaction will proceed after the formal procedures done by the relevant parties to avoid legislative complications.

Past Happenings

On March 10, 2021, GLG stock announced the warrant exercise agreement according to which recognized investors are willing to exercise all the outstanding warrants without cash to buy an aggregate of 100,000 and an aggregate of 1,530,000 common shares, which GLG stock issued on May 23, 2019, and April 15, 2019, respectively.

On February 25, 2021, Hainan Jianchi Import and Export Co., Ltd, a GLGwholly-owned subsidiary, was granted the license of Dangerous Chemicals Business by the State Administration of Work Safety of China. This license will make GLG expand its strategic business in the energy commodities field and provide commodities services to clients in the chemical energy areas.

So Now:

The penny GLG stock is continuing the bullish trend in the stock market.GLG stock has been much in the news for the past few weeks. Recent GLG stock news suggests that TD Holdings is growing and expanding its network day by day. In short, GLG stock is progressing and can be a good bet for investors. Still, it’s a good practice to analyze the balance sheet, company’s fundamentals, and growth prospects before adding any stock to the portfolio.

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