Why Ebang International Stock Was Up 15% Last Month
Shares of Ebang International Holdings (NASDAQ: EBON) were up 15.2% in March according to data provided by S&P Global Market Intelligence. The stock was actually up more than 70% at one point, as investors celebrated the launch of the company's cryptocurrency exchange. But the excitement was short-lived and the stock started to fall. It has continued falling in April.
On March 11, Ebang International announced the launch of its cryptocurrency exchange. Think of it like a brokerage account for cryptocurrencies instead of stocks. The platform was offered as a beta test on March 15 to select invitees. However, this test progressed quickly. The formal launch of the exchange came just three weeks later on April 5.
Image source: Getty Images.
Source Fool.com