Why TD Holdings Shares Are Skyrocketing Today

TD Holdings Inc GLG shares are trading higher Friday morning after the company entered a non-binding letter of intent to acquire Guangdong Jinbochuang Special Purpose Vehicle Co. and Hunan Jinmeike New Material Co.

TD Holdings Inc is engaged in commodity trading business and supply chain service business in China. The commodities trading business primarily involves purchasing non-ferrous metal products from upstream metal and mineral suppliers and then selling to downstream customers.

The supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information and futures trading.

TD Holdings has a 52-week high of $4.02 and a 52-week low of $0.77. At the time of publication, shares were trading 44.7% higher at $1.18.