What's Going On With VS Media Holdings Stock?

VS Media Holdings Limited VSME shares are volatile Thursday. The company announced the closing of its inital public offering (IPO) and its expansion into Macau this week. 

What To Know:

VS Media Holdings, a Hong Kong-based company managing a global network of digital creators on social media platforms such as YouTube, Facebook, Instagram, and TikTok, announced the closing of its IPO of 2 million ordinary shares priced at $5 per share on Monday. 

On Wednesday, the company announced its expansion into Macau through a partnership with partnership with MLink Limited, a Macau-based company providing hospitality services to visitors.

"We are thrilled to expand into Macau, a vibrant destination with rich cultural heritage and tremendous potential for growth," said Tiffany Wan, regional vice president at VS Media. 

Shares of VSME are moving on heavy trading volume. According to data from Benzinga Pro, more than 18.5 million shares have already been traded on Thursday, compared to the stock's average of 3.661 million shares.

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VSME Price Action: According to Benzinga Pro, VS Media Holdings shares are up 3% at $4.80 at the time of publication.

Image: Gerd Altmann from Pixabay