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.
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.