MultiMetaVerse Holdings LimitedNASDAQ: MMV

SHANGHAI , May 20, 2024 /PRNewswire/ -- MultiMetaVerse Holdings Limited ("MMV" or the "Company"), a leading animation and entertainment company for young consumers in China, announced today that it has entered into a non-binding term sheet (the "Term Sheet") for the acquisition (the "Proposed Transaction") of 100% of Bowong Technology (Shenzhen) Co., Ltd. and its subsidiaries (collectively "Bowong AI") by the issuance of the Company's Class A ordinary shares to the shareholders of Bowong AI as consideration (the "Consideration Shares"), the amount of which will be determined  based on further due diligence and negotiation.

MultiMetaVerse (NASDAQ: MMV ) stock is on the rise Monday despite a lack of news from the Chinese animation and entertainment company. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today.

One of today's biggest market movers is a little-known penny stock that is experiencing astronomical gains. MultiMetaVerse (NASDAQ: MMV ) has surged more than 125% in just a few hours of trading.

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