Star Fashion Culture stock falls on $9.6M share offering

Star Fashion Culture Holdings Ltd. (NASDAQ:STFS) shares rose 34.71% to $4.89 in after-hours after an intraday gain to $3.63, per Benzinga Pro. The move followed an SEC filing: on Jul. 22 the company agreed to sell 2 million Class B shares to Xingji Zhangpingting Limited for $2.60 million at $1.30 each. The buyer is controlled by the CFO, Zhang Pingting.

Star Fashion Culture (NASDAQ:STFS) reported quarterly EPS of -$0.01 and revenue of $6.36 million, according to FiscalAI. Shares fell $0.61 to $10.20 midday, with 11,228 shares traded versus a 206,398 average. Weiss Ratings downgraded less severely, upgrading from “sell (e+)” to “sell (d-)” on May 7.

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