Net Element's stock soars 144% after announcing launch of blockchain business [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 soars 144% after announcing launch of blockchain business Shares of Net Element Inc. NETE, +301.83% more than doubled on heavy volume in premarket trade Wednesday, after the electronic payments company said it was launching a blockchain-focused business unit. The company said it has partners with Bunker Capital to develop a decentralized crypto-based ecosystem that will act as a framework for services that can connect merchants and consumers directly using blockchain technology. "We believe that we're at the dawn of a new evolution where additional digital payment methods are being introduced," said Net Element Chief Executive Oleg Firer. The stock traded up 144% on volume of 875,000 shares ahead of the open, compared with the full-day average for volume of 458,000 shares. The stock had tumbled 30.5% year to date through Tuesday, while the S&P 500 SPX, +0.03% had climbed 19.8%.
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