AGM Group Holdings Inc. (NASDAQ:AGMH) surged 158.74% during after-hours trading to $5.77, up from its $2.23 closing price on Thursday, following the filing of Form 6-K with the Securities and Exchange Commission.
Check out the current price of AGMH stock here.
$57.5 Million Semiconductor Subsidiary Sale Completed
The filing revealed that AGM’s subsidiary in Hong Kong finalized the sale of Nanjing Lucun Semiconductor Co. Ltd. to Hong Kong Giant Electronics Co., Limited for $57.45 million on May 7. Nanjing Lucun mainly manufactures advanced hardware and computing equipment.
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Market Response to Strategic Restructuring
The after-hours surge suggests investors view the asset sale as transformational, providing the fintech with cash proceeds exceeding 13 times its current market capitalization. The filing also includes unaudited pro forma financial statements showing that continuing operations generated $3.41 million in net income for 2024, with revenues of $32.04 million.
Pro Forma Results
The deal marks a significant sale for AGM, a company with a market value of $4.29 million and a price-to-earnings ratio of 0.32. AGM’s stock has been highly volatile, fluctuating between $1.09 and $108.48 over the past year.
For 2025, the stock of the Hong Kong-based company is down 97.05%. On December 31, the year-to-date peak was $75.50 with a volume of 125K. Yesterday, the stock closed at $2.23 with a volume of 77K, marking a 97.03% decline from the peak.
Price Action: AGMH closed down 5.91% during regular trading hours before the dramatic reversal, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings indicate that AGM is experiencing short-term upward movement. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
