Glory Star rises on approval for cross-border e-commerce business

Cheer Holding

13/09/2021 12:38

** U.S.-listed shares of Hong Kong-based digital media co
 GSMG.O  up 8.3% at $2.61 premarket 
    ** Co receives regulatory nod from Chinese government to
develop a cross-border e-commerce business  urn:newsml:reuters.com:*:nPn4ybtn7a
    ** GSMG to expand and promote its "Cheers" e-Mall platform
services to importers, exporters, and businesses outside of
China
    ** Only one brokerage covers the stock with a "buy" rating
and PT of $7.50 - Refinitiv data
    ** As of last close, stock down ~12.4% this year 

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))