Monday, December 18, 2017

LongFin Pivots to Blockchain from FX, Stock Jumps 2000%

From ZeroHedge:

UPDATE below
Meet The Big-Data, AI, Blockchain, FinTech Mania Stock Of The Year
Having closed last Thursday on its IPO-day at $5.38, news of the acquisition of Ziddu - a blockchain solutions provider (whatever that means in the real world) - LongFin has since exploded to $44.80 in today's pre-market... up 730% in 2 days.

Remember LongFin? an independent finance and technology company. The Company offers commodity trading, alternate risk transfer, and carry trade financing services. LongFin also provides hedging and risk management solutions to importers, exporters, and small medium business enterprises. LongFin serves customers worldwide.
As iBankCoin notes, it has all of the trimmings of wanton degeneracy on an industrial scale.
  • Recent IPO: check
  • Small float: check
  • Shady as heck: check
  • AI company: check
and the cherry on the top...
  • a day after coming public, they announce the purchase of a blockchain company: check
*  *  *
On Thursday Dec 14th, LongFin launched as a FinTech company that helped with FX hedging (and slipped from its post-IPO open price to close lower....MORE
Update: Well that escalated quickly...