MultiMetaVerse Plans to Acquire Equity Stake in Taomee

(24/7 MARKET NEWS) – MultiMetaVerse Holdings Limited (NASDAQ: MMV) stated, this morning, that it entered into a non-binding term sheet with Dongzheng Ruibo (Shanghai) Investment Center and Orient TM Ruibo Limited, regarding the proposed acquisition of equity stake in Taomee group by MultiMetaVerse.

MultiMetaVerse Holdings is trading at $1.60, up $0.66 (+70.21%), on 838K premarket shares traded.

Its 52-week range is $0.8836 to $17.75. I would not think in terms of going long, as this is a foreign based listing, but its setup is similar to yesterday’s UCAR action, so I’m posting as I hold my nose.

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