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Epsium Enterprise Ltd. (NASDAQ:EPSM) opened pre-market trading with significant volatility following Tuesday’s extraordinary 411.49% surge that lifted shares from $26.98 to $138. According to Benzinga Pro data, in the early trading session, the Chinese company retreated to $58.01, down 57.96%, indicating extreme price instability.
Check out the current price of EPSM stock here.
The dramatic surge follows the company’s Form 6-K filing with the Securities and Exchange Commission on September 8, announcing the adoption of its Third Amended and Restated Memorandum and Articles of Association.
The corporate restructuring was approved by the majority shareholders during an Extraordinary General Meeting held on August 22, and became effective on August 27.
The amended corporate structure establishes a dual-class share system featuring Class A and Class B ordinary shares, plus preferred shares. Class B shares carry 20 votes per share compared to one vote for Class A shares. The restructuring includes automatic conversion provisions where Class B shares convert to Class A shares upon transfer to non-affiliated parties.
With a market capitalization of $1.85 billion and a price-to-earnings ratio of 6,653.81, EPSM has a 52-week trading range between $4.23 and $155.00. The average trading volume is 474,930 shares.
The beverage wholesaler rose 2,763.07% in six months to $138.00 on NASDAQ.
Benzinga's Edge Stock Rankings indicates EPSM has a positive price trend across all time frames. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Posted In: EPSM
