GD Culture Stock Tumbles 28% Following $875 Million Bitcoin Acquisition Announcement

GD Culture Group, a company involved in livestreaming and e-commerce, experienced a significant drop in its stock value, falling 28% after announcing a deal to acquire all assets from Pallas Capital Holding, which includes a substantial holding of 7,500 Bitcoin. The acquisition, valued at $875.4 million, was made through the issuance of nearly 39.2 million shares of GD Culture's common stock.