BGM Shares Fall Below 30 Cents as Nasdaq Deadline Nears
BGM Group Ltd. shares closed down 10.49% at $0.2910 on Friday, taking the Nasdaq stock closer to its 52-week lows. Just 164,340 shares traded hands, well under the recent average of 236,148, according to market data. BGM is still weighed down by a June financing. In a May SEC filing, the company said it struck a deal to sell 200 million Class A ordinary shares for 6 cents apiece, plus it will issue warrants giving holders an option to buy as many as 200 million more shares later.