A Small Fintech Stock Surged 2,600% in a Week After Announcing It’s a Crypto Company
- LongFin buys microlender that transacts only in digital coins
- Latest small company to see gains based tied to bitcoin mania
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Fintech plus cryptocurrency equals about $7 billion.
That’s how much the value of LongFin Corp. surged to after the microcap’s stock rocketed by as much as 2,600 percent since debuting Wednesday. Most of the gains came since Friday, when the company issued a press release saying it bought Ziddu.com, “a blockchain-empowered global micro-lending solutions provider” that transacts only in cryptocurrencies.