Baosheng Media Group Holdings Ltd (NASDAQ: BAOS ) shares are trending on Wednesday.
Shares of the Chinese online marketing and advertising solutions provider surged 125.02% to $1.64 in after-hours trading on Tuesday.
In the regular session, BAOS closed at $0.73, up 3.15%, according to Benzinga Pro data.
Dilution Fears Ease
On Tuesday, Baosheng Media Group disclosed in a Securities and Exchange Commission filing that it has terminated its securities purchase agreement with private investment firm High West Partners LLC.
According to the SEC filing, the SPA dated Jul. 10 allowed Baosheng to sell up to $30 million in ordinary shares to the investor over time. The Beijing-based company sent its termination notice Tuesday, with the termination taking effect Wednesday.
The filing stated that before termination, 255,328 ordinary shares had been sold under the deal.
Trading Metrics, Technical Analysis
Baosheng Media Group has a market capitalization of $23.13 million, a 52-week high of $5.40 and a 52-week low of $0.50.
The Relative Strength Index (RSI) of BAOS stands at 25.80.
The small-cap stock has fallen 73.38% over the past 12 months.
BAOS is currently trading near its 52-week low.
On Tuesday, the stock saw elevated trading activity, with 31.91 million shares changing hands, about 69.5 times its average daily volume of 458,950 shares.
Benzinga’s Edge Stock Rankings indicate BAOS stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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