How One Mysterious Startup Is Riding the Bitcoin Wave [Bloomberg Business News]
LONGFIN CORP A (LFIN)
US:NASDAQ Investor Relations:
nasdaq.com/symbol/lfin/historical
Company Research
Source: Bloomberg Business News
With hardly a year of operations under its belt and scant results to show for it-- UBI Blockchain Internet is riding buzzwords to a stock boom. It’s become one of the most valuable publicly traded companies in the bitcoin universe -- second only to LongFin Corp. The stock surged almost 1,000 percent this year, valuing UBI Blockchain at $1.2 billion. Now, the Hong Kong-based company has registered to sell an additional 72.3 million shares currently owned by executives including Chief Executive Officer Tony Liu, regulatory filings show. But convincing would-be shareholders to wager on an untested business model could prove challenging for a company with 18 employees, no revenue and whose regulatory filings list a disconnected phone number. The volatility of bitcoin , considered a proxy for companies that rely on blockchain technology, isn’t helping either. “The profile of this company is scary,” says Charles Lee , the Moghadam Family Professor of Man
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