Microcap Net Element Explodes 280% Higher After Announcing Blockchain Expansion [zero hedge]
Net Element, Inc. (NETE)
Last net element, inc. earnings: 11/14 08:30 am
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Source: zero hedge
Microcap Net Element Explodes 280% Higher After Announcing Blockchain ExpansionNow that it is abundantly clear that for a stock to explode higher, all that is necessary - and sufficient - is a press release mentioning the company's name and throwing in the word "blockchain" in the same sentence (see Riot Blockchain and LongFin Corp), other public microcaps have decided that if that's all it takes, then by all means they will gladly take investors' money. And so, this morning there is not one but two such examples, the first of which is the $15 million market cap Net Element, which describes itself as a "global financial technology and value-added solutions group that supports electronic payments acceptance in an omni-channel environment spanning across point-of-sale (POS), e-commerce and mobile devices."Trite, generic, and boring... and yet the company's stock is up more than 280% in premarket trading, rising from $5 to $19 per share...Why? Because in a press release this morning, Net
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