A Small Fintech Stock Surged 2,600 Percent in a Week After Announcing It’s a Crypto Company
Posted by msmash on 19th December 2017

link to original article

An anonymous reader shares a report: Fintech plus cryptocurrency equals about $7 billion. That’s how much the value of LongFin surged to after the microcap’s stock rocketed by as much as 2,600 percent since debuting Wednesday. Most of the gains came since Friday, when the company issued a press release saying it bought Ziddu.com, “a blockchain-empowered global micro-lending solutions provider” that transacts only in cryptocurrencies. LongFin joins a growing list of little-known companies that have seen their values soar after simply announcing plans to join the digital currency craze that’s pushed the value of bitcoin past $300 billion. The microcap rallies are reminiscent of the height of the dot.com bubble, when virtually any company that put tech in its name found favor on the public markets.

Read more of this story at Slashdot.

Please disable your AdBlocker so our free service can continue delivering you breaking news, insightful analysis, and a collection of aggregated content that will keep you informed like no other.