Is Ebang (EBON) Ready To Move Up in March After The Recent Move?

The Ebang International (NASDAQ: EBON) stock emerged as one of the notable gainers on Monday and surged by as high as 15.50%. While the gains made by the stock are eye-catching, it should be noted that there was no news about the company that could have pushed up the share price.

Is Ebang (EBON) Ready To Move Up in March After The Recent Move?

In such a situation, it might be worthwhile to take a look at one of the key developments about the company from last month. Back on February 18, the Ebang stock had surged when the company announced that it successfully closed a stock offering worth as huge as $70 million.

The company is involved in selling Bitcoin mining machines and due to the recent surge in the price of Bitcoin; there has been considerable investor interest in such machines. In the aforementioned stock offering, the company offered as big as 14 million units and priced them at $5 each. In light of the latest gains, investors could consider tracking the stock this week.

Jack Dawkins

Finance and Tech Contributor