The cryptocurrency mining industry has grown at a remarkable rate in the past few years and it is no surprise that investors are often on the lookout for stocks from that particular sector. One such company that saw its stock record massive gains this past Friday was that of Applied Science Products (OTC: APLD).
Last Friday, the company announced that it signed partnerships with firms like General Mining Research and SnarkPool with the aim of mining Ethereum and other ‘Altcoin’.
It is a significant development for the company and the investors reacted accordingly as the Applied Blockchain stock soared by as high as 215%. In addition to that, it is also necessary to point out that that the company also managed to complete to raise gross proceeds of $16.5 million from private investment. It now remains to be seen if the stock can manage to hold on to its momentum and continue to record gains today.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.