: GD Culture stock nearly doubles after plans announced to enter TikTok’s live-streaming e-commerce market

Shares of GD Culture Group Ltd. GDC blasted 92.5% higher in active premarket trading Monday, after the Hong Kong-based company said it plans to enter the live-streaming e-commerce business launched on the social media platform TikTok. Trading volume ballooned to 7.7 million shares, which compares with the full-day average over the past 30 days of about 44,200 shares. “The global e-commerce paradigm is shifting,” said Xiaojian Wang, chief executive of the company, which is doing business as Shanghai Highlight Media Co. Ltd. and AI Catalysis Corp. “With our TikTok live-streaming initiative, GDC aspires to not only be a part of this evolution but to be a leading voice in it.” GD Culture’s stock had popped up on investors’ radar on May 1, when it skyrocketed 1,140% despite no news being reported, as one of a number of small-capitalization China-based companies that attracted investor attention. The stock has tumbled 42.8% over the past three months through Friday, while the iShares MSCI China ETF MCHI has slipped 2.1% and the S&P 500 SPX has gained 4.8%.

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