NCTY Stock Increases Over 19% Intraday: Why It Happened

By Amit Chowdhry ● Jul 26, 2021
  • The stock price of The9 Limited (NASDAQ: NCTY) increased by over 19% during intraday trading. This is why it happened.

The stock price of The9 Limited (NASDAQ: NCTY) increased by over 19% during intraday trading. Investors are responding positively to the prices of cryptocurrencies increasing. The9 Limited is a company that primarily focuses on developing cryptocurrencies mining businesses.

As of 4:45 AM ET today, the prices of bitcoin, ethereum, and dogecoin all increased over 7% over the past 24 hours. Bitcoin hit a new six-week high price of $38,680 as of this morning. 

One of the reasons why the price of bitcoin is increasing is due to rumors that Amazon could begin accepting the cryptocurrency at the end of this year.

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