Mingzhu Logistics Completes $8 Million Direct Offering
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Mingzhu Logistics Holdings completed an $8 million direct offering, selling 8 million units comprising shares and warrants. Proceeds will be used for working capital and corporate purposes, enhancing operational capabilities. Analysts rate YGMZ stock as Hold with a $0.11 target, noting financial challenges and bearish technical indicators. Mingzhu Logistics, a trucking service provider in China, faces declining revenues and negative cash flows, with a strong sell sentiment and reliance on debt.
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