Why Shares of Seven Stars Cloud Group Jumped Again Today [The Motley Fool]
SEVEN STARS CLOUD GROUP (SSC)
US:NYSE Investor Relations:
sevenstarscloud.com
Company Research
Source: The Motley Fool
More blockchain-related news from the money-losing company. Timothy Green ( TMFBargainBin ) Dec 20, 2017 at 12:50PM What happened Shares of Seven Stars Cloud Group ( NASDAQ:SSC ) soared on Wednesday after the company announced the acquisition of an additional 20% stake in BBD Digital Capital Group. A mention of blockchain in the press release announcing the deal was enough to trigger the rally, adding to Monday's gain . Shares of Seven Stars were up about 34% at 12:20 p.m. EST. So what Seven Stars will pay $9.8 million, composed of $2 million in cash and $7.8 million worth of common stock, to Tiger Sports Media Limited for a 20% stake in BBD Digital Capital. Seven Stars already owns 40% of the company, so this deal will make it the majority owner. Image source: Getty Images. BBD Digital Capital will focus on leveraging the BBD brand
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