BGM Shares Fall Below 30 Cents as Nasdaq Deadline Nears
BGM Group Ltd. shares fell 10.49% to $0.2910 Friday, nearing 52-week lows after light trading. The company is raising cash by selling 200 million new shares at $0.06 each in a private placement, a steep discount to market price, with plans to close in June. BGM faces Nasdaq delisting risk unless its share price tops $1.00 by October 21, 2026. Broader markets also dropped sharply after strong U.S. jobs data.