Net Element's stock rockets on record volume to extend gains after entering blockchain fray [MarketWatch]
Net Element, Inc. (NETE)
Last net element, inc. earnings: 11/14 08:30 am
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Source: MarketWatch
Net Element's stock rockets on record volume to extend gains after entering blockchain fray Shares of Net Element Inc. NETE, +297.31% rocketed more than four-fold to a 16-month high on very high volume in midday trade Wednesday, extending gains in the wake of the electronic-payments company's announcement that it was entering the blockchain fray. The stock was the biggest percentage gainer trading on major U.S. exchanges. Volume swelled to 13.8 million shares, compared with the full-day average of about 458,000 shares, and about triple the stock's previous record one-day volume of 4.6 million shares. The stock's 335% rally comes 2 1/2-months after the company enacted a 1-for-10 reverse stock split on Oct. 5; on Oct. 4, the stock closed at a pre-split-adjusted price of 63 cents. The company announced before Wednesday's open that it was launching a blockchain-focused business unit , in an effort to develop a cryptocurrency-based ecosystem to connect merchants with consumers. Meanwhil
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