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Stock impact report

Cryptocurrency CEO Warns 1,000% Stock Rise Is ‘Not a Reality’ As Bitcoin Mania Takes Hold [Fortune]

LONGFIN CORP A (LFIN) 
US:NASDAQ Investor Relations: nasdaq.com/symbol/lfin/historical
Company Research Source: Fortune
By Lisa Marie Segarra 11:34 AM EST After financial tech company Longfin bought a cryptocurrency company, its market shares went up by over 1,000%. But the CEO doesn’t think it should. “We are a profitable company… We have nothing to do with this euphoric mania,” Longfin CEO Venkat Meenavalli said on CNBC’s Fast Money. He later added that market value the company reached “is not a reality.” CEO of cryptocurrency play up 1,000% in 2 days to $3.1 billion: 'This market cap is not justified' https://t.co/1PixJG5yXT — CNBC (@CNBC) December 19, 2017 Meenavalli valued his company’s IPO at $5 when it launched Tuesday, Dec. 12. After the company announced Friday it bought Ziddu.com, a microlending company that claims to use the same blockchain technology that Bitcoin does but reportedly has no revenue, sh Show less Read more
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