Still Better Despite Recent Move Up? Baosheng Media Group Holdings Limited (BAOS)

In after-hours trading, Baosheng Media Group Holdings Limited (BAOS) is up 0.85% today to close at $2.37. The shares of Baosheng Media Group Holdings Limited rose 9.81% to close the day at $2.35 on Monday. 2.35 million shares were traded, which is higher than the average volume of 497.04K shares over the last three months. Over the trading session, the stock moved between $2.09 and $2.39. The stock of BAOS dropped -4.86% in the previous five sessions and -26.79% in the past month but has lost -73.48% year-to-date. There are no significant differences between the 50-day and 200-day moving averages for this stock. Furthermore, the stock is currently trading at an RSI of 39.82. The stock movement was strange as there was no news regarding the stock was released. The most recent publications about or by the company are the following.


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Most recent highlights

  • April 30, 2021- An online marketing solution provider based in China, Baosheng Media Group Holdings Limited (Nasdaq: BAOS), released its fiscal 2020 results. Following the results, the statement from the Company noted that during last year’s outbreak of COVID-19, we and our customers both suffered a significant and negative impact. However, our business continues to operate on sound fundamentals despite temporary hurdles. Our resilient business model enabled us to outperform most of our peers.

 

  • April 20, 2021- Baosheng Media Group Holdings Limited, a China-based online marketing solution provider, today announced that the Company had hired Mr. Gang Chen as a project lead to take charge of, and establish a new team to carry out, the Company’s blockchain-based marketing activities and cryptocurrency associated business. In addition, the Company also entered into a purchase contract on April 14, 2021, to purchase up to 1,000 mining machines to start its Bitcoin mining business.

 

  • Chen has extensive experience in equity investment, initial public offerings, mergers and acquisitions, and restructuring in China. He has a deep understanding of the blockchain and cryptocurrency business and has a wealth of knowledge in the production, trading, settlement, clearing, and management of cryptocurrencies. Mr. Chen served as an investment director of Guangzhou Lingnan Group Holdings Co Ltd from July 2010 to April 2016. From July 2003 to December 2009, Mr. Chen served as a senior manager at Zhengzhong Zhujiang Certified Public Accountants. From June 2001 to June 2003, Mr. Chen served as an investment manager of China Resources Vanguard Co., Ltd. Mr. Chen holds a bachelor’s degree in accounting from Hangzhou Dianzi University and is a certified public accountant in China.

 

  • March 18, 2021 -Baosheng Media Group Holdings Limited (Nasdaq: BAOS), a China-based online marketing solution provider, today announced the Company has entered into a securities purchase agreement with two investors, including a wholly-owned subsidiary of Ebang International Holdings Inc. (Nasdaq: EBON) for an investment of US$10 million.

Conclusion:

There is not substantial reason which may have caused this disruption in the stock price today. It often is shaky investors taking unsure steps to change the course of share price for the short term.

Baosheng Media Group, BAOS, BAOS stock, EBON

 

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