India, July 20 -- Shares of Globavend Holdings Limited (GVH) are tumbling about 60 percent on Monday morning after the company announced that its digital entertainment subsidiary, Loomi Entertainment Group, has signed a global distribution agreement with DramaBox for the worldwide release of its original AI-produced English language micro drama, "The Wolf King's Forbidden Bride."
Shares of the company slipped 60.78 percent to $1.87 on the Nasdaq, compared with the previous closing price of $4.76. The stock has traded in a 52-week range of $0.8700 to $10.7400.
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