🔴 Global Mofy Metaverse is trading 10% down in after-hours trading after deal to raise Qifei stake

Global Mofy Metaverse is trading 10.27% down at $0.94 after-hours after disclosing it would issue 3 million Class B shares, valued at $3.9 million, for an additional 4.875% stake in Qifei.

• The agreement would bring the company’s combined Qifei stake to 9.935%.
• CEO and chairman Haogang Yang has interests on both sides of the related-party transaction.
• Shares fell across several recent sessions; Bitcoin and Ethereum’s since-close moves were modest and do not explain the company-specific catalyst.