What Drove X3 Holdings' Over 14% Surge In Pre-Market Trading?

X3 Holdings Co Ltd. (NASDAQ:XTKG) gained 14.59% in pre-market trading to $0.31 on Thursday.

The stock closed the regular session down 33.74% at $0.27, according to Benzinga Pro.

Stock Rebounds Following Hudson Global Ventures Funding Deal

The move followed a Wednesday prospectus supplement disclosing an equity purchase agreement with Nevada-based Hudson Global Ventures, LLC, signed on Jan. 30.

The agreement grants X3 Holdings the right to sell up to $50 million in ordinary shares to the investor at the company’s discretion during the commitment period.

Equity Agreement Terms

According to the prospectus, the commitment period terminates on the earlier of the first day of the month following the 24-month anniversary or when the investor purchases shares totaling the $50 million maximum commitment.

X3 Holdings can request individual sales with a minimum of $25,000 and a maximum of $2.5 million, or up to 200% of the average daily trading value.

Shares will be priced at 93% of the average of the three lowest traded prices during the seven trading days preceding each sale request.

Trading Metrics, Technical Analysis

The Relative Strength Index (RSI) of XTKG stands at 29.61.

With a market capitalization of $4.35 million, the stock has traded as high as $16.26 and as low as $0.11 over the past 52 weeks.

Over the past 12 months, the stock of the Singapore-based technology company has seen a staggering decline of 94.08%.

The stock is currently positioned very close to its 52-week range, indicating it is near the annual low.

Benzinga's Edge Stock Rankings indicate that XTKG has a negative price trend across all time frames.

Photo courtesy: Xharites on Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.