Why Shares of Seven Stars Cloud Group Are Soaring Today [The Motley Fool]
SEVEN STARS CLOUD GROUP (SSC)
US:NYSE Investor Relations:
sevenstarscloud.com
Company Research
Source: The Motley Fool
Cryptocurrency mania is driving up the value of this unprofitable company. Timothy Green ( TMFBargainBin ) Dec 18, 2017 at 1:05PM What happened Shares of Seven Stars Cloud Group ( NASDAQ:SSC ) , which focuses on supply chain and digital finance solutions powered by artificial intelligence, jumped on Monday. There was no company-specific news, but with Seven Stars having announced a blockchain-based initiative earlier this year, it's safe to say that the surge in cryptocurrency prices is the main driver behind this gain. The stock was up 23% at noon EST, although it was down just two hours earlier. So what Seven Stars stock has risen about 240% since Sept. 1. The company announced on Sept. 28 plans to launch an asset-backed securitization, tokenization, and exchange platform by the end of the year, claiming that it will be the first such platform
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