Meiwu Technology Co Ltd (NASDAQ:WNW) stock climbed on Wednesday, extending its positive momentum into midweek. Traders are heavily buying the micro-cap stock following earlier disclosures regarding a private financing deal structured to fund an artificial intelligence skincare expansion.
The Nasdaq is up 1.24% while the S&P 500 has gained 0.83%.
• What should traders watch with WNW?
Private Placement Fuels Capital
On Tuesday, Meiwu secured approximately $15.65 million in fresh capital through a private share sale involving 25 million ordinary shares. The firm executed the transaction under a securities purchase agreement signed on May 5, which officially closed on May 8. Meiwu sold the shares at $0.626 each, leaving the company with roughly 26.33 million ordinary shares outstanding.
AI Skincare Expansion Plans
The company intends …
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