Why TD Holdings Shares Are Surging

TD Holdings Inc GLG is surging Thursday morning after the company reported financial results that were significantly improved year-over-year.

TD Holdings said revenue increased 612% year-over-year to $201.13 million. The company said it also narrowed its net loss by 84% on a year-over-year basis.

The strong results were "driven by continued execution of our strategy and our demonstrated ability to manage challenges brought by COVID-19 epidemic," said Renmei Ouyang, CEO of TD Holdings.

"Looking forward, we intend to continue driving growth in our business by leveraging our market leadership and investing to capitalize on robust demand dynamics," Ouyang added.

TD Holdings is engaged in the commodity trading business and offers supply chain services in China.

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GLG 52-Week Range: $0.17 - $2.43

The stock was up 74% at 41 cents at time of publication.