AGM Group (AGMH) stock rocketed higher on Friday under some strange circumstances. The Chinese financial technology company filed a 6-K report with the Securities and Exchange Commission (SEC) that confirmed the sale of subsidiary Nanjing Lucun Semiconductor to Hong Kong Giant Electronics for $57.45 million.
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Here’s the rub: this isn’t the first time that AGM Group has confirmed this subsidiary sale. Even its own filing with the SEC is dated May 7, 2025. The company has also included confirmation of this sale in previous filings with the SEC. It’s unclear why the sale was restated in this SEC filing.
Other news that has investors excited about AGM Group is an earnings report. Shareholders expect this report to come out soon, which could be another reason why AGMH stock is on the rise today. That earnings report will likely be a catalyst for AGM Group stock, though investors will have to wait until its release to see if it’s a negative or positive one.
AGM Group Stock Movement Today
AGM Group stock was up 186.1% on Friday, following a 5.91% drop yesterday. The shares have fallen 97.05% year-to-date and 97.1% over the past 12 months. Today’s news came with heavy trading, as some 43.8 million shares changed hands, compared to a three-month daily average of about 525,000 units.
Considering that AGM Group stock is within penny territory, and that its major catalyst today is old news, traders will want to be careful about taking a stake in the shares. This could be a pump-and-dump, which could leave unfortunate traders holding the bag.
Is AGM Group Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of AGM Group is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates AGMH stock a Neutral (46) with no price target. It cites “significant financial challenges with declining revenue and profitability” as reasons for this stance.
