EBON Stock Price Increases Over 10% Pre-Market: Why It Happened

By Amit Chowdhry ● Aug 9, 2021
  • The stock price of Ebang International Holdings Inc (NASDAQ: EBON) increased by over 10% pre-market. This is why it happened.

The stock price of blockchain technology company Ebang International Holdings Inc (NASDAQ: EBON) increased by over 10% pre-market. There are not any company-specific reports driving the stock price up today so it appears there are external factors at play.

Investors in stock trading platforms are citing the momentum in cryptocurrencies as being the driving force for the stock price increase. The price of the Bitcoin cryptocurrency is up more than 9% over the past week. And Ethereum is up more than 12% over the past week. 

Ebang International Holdings has strong application-specific integrated circuit (ASIC) chip design capability. And with years of industry experience and expertise in ASIC chip design, it has become a leading bitcoin mining machine producer in the global market with steady access to wafer foundry capacity. Plus with its licensed or registered entities in various jurisdictions, the company seeks to launch a professional, convenient and innovative digital asset financial service platform to expand into the upstream and the downstream of blockchain and cryptocurrency industry value chain. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.