Cryptocurrencies
Future FinTech Jumps, Then Falls After Touting Blockchain Ties
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Future FinTech Group Inc.’s rebranding efforts during this past winter’s Bitcoin craze appear to be losing their juice.
Shares of the Xi’an, China-based firm, formerly known as SkyPeople Fruit Juice Inc., jumped as much as 27 percent Friday after the company announced a “strategic transformation plan” involving blockchain. The rally didn’t last long. The stock quickly lost more than half of the gain and was up 6.5 percent to $2.29 as 12:15 p.m. in New York.