Cheer Holding shares surge 10.4% premarket after forming special committee to evaluate acquisition proposals.

Cheer Holding surged 10.4% in premarket trading following its announcement of a share consolidation of Class A Ordinary Shares. The move, reported by GlobeNewswire one month prior, aims to enhance liquidity and investor accessibility by reducing the number of outstanding shares, a common strategy to stabilize or improve stock performance. While older news, including delisting risks and acquisition proposals, had previously pressured the stock, the recent consolidation signals a proactive effort to address governance and market positioning. This development aligns with the premarket rally, as investors likely interpreted the consolidation as a positive step toward resolving prior challenges and boosting shareholder value.