VS Media Soars 300% Before the Open After S T Meng Debt Deal Gets Noticed
VS Media Holdings Limited jumped in premarket trading Wednesday after news of a debt-to-equity swap with S T Meng Pte. Ltd. that will give the investor a larger stake in the small Nasdaq digital media firm. The $3.8 million note converts to equity. Shares were at $3.43 as of 9:00 a.m. ET, up 316.57% from the last close, Public.com premarket data showed. Premarket moves, which happen before the 9:30 a.m. ET open, can see bigger price changes and lighter volumes. VS Media shares finished Tuesday at $0.8234, up 6.92%. Google Finance listed the company’s market cap at about $2.29 million and said trading volume reached 98.23 million shares. The $3.8 million S T Meng note stands out against that small public equity value, making the filing a clear driver for trading during the day.
