US Stock Market Movement | Good news turns into bad news? Globavend continues to fall by over 24% in pre-market trading

Globavend Holdings experienced a further pre-market drop of over 24% today, following yesterday's steep decline of 68.9%. This sharp fall stands in stark contrast to the company's announcement of signing a DramaBox issuance agreement—a news released before the opening on July 20, which was expected to support the stock price. It appears that market expectations for the company's transition to AI entertainment business have already been fully priced in. The signing of the DramaBox global issuance agreement (reaching over 90 million registered users) represents the fulfillment of prior expectations, prompting early investors to cash out profits once the news was confirmed.