"MOGU Inc. MOGU shares climbed higher Thursday after the Chinese e-commerce and social commerce platform unveiled a new plan to allocate up to $20 million into digital currencies, including Bitcoin BTC/USD, Ethereum ETH/USD, and Solana SOL/USD, as well as related securities and investment products. The company's board approved the move on Sept. 9, saying the initiative is designed to diversify treasury assets."
"Chairman Chen Qi has been granted authority to determine the timing and scale of the purchases. The board emphasized that blockchain and digital finance may play a role in building next-generation AI-powered consumer experiences, aligning with the company's long-term transformation efforts. On July 21, the company reported unaudited results for the six months ending March 31, along with full-year fiscal 2025 numbers."
MOGU shares rose after unveiling a plan to allocate up to $20 million into digital currencies including Bitcoin, Ethereum, and Solana, along with related securities and investment products. The board approved the plan on Sept. 9 and granted Chairman Chen Qi authority to determine timing and scale of purchases. The board noted that blockchain and digital finance may contribute to building next-generation AI-powered consumer experiences and align with long-term transformation efforts. Financial results for the six months ending March 31 showed total revenue rose 3% year-over-year to RMB79.4 million, while live-video GMV fell nearly 29% to RMB2.1 billion and overall GMV declined 29.1% to RMB2.15 billion. Shares traded up over 120% to $5.51.
Read at Benzinga
Unable to calculate read time
Collection
[
|
...
]