The9 Limited (NCTY) Soars 51%: Should You Invest?

Starting from July 20, the stock was increasing from $8.78 to $17.95 on August 9. The growth of the stock was accompanied by high volatility. After this rise, the stock started to slowly and continuously fall with the high volatility and reached $12.85 for today. The market capitalization of the company is $209.25 million.

On August 10, The9 Limited made an announcement that the wholly-owned subsidiary of the company, NBTC Limited, and a Kazakhstan company LGHSTR have entered into the non-binding investment memorandum in order to create the joint venture in Kazakstan. According to the agreement, the NBTC will own 51% while the LGHSTR will own 49% of the joint venture. 

The joint venture plans to contribute and construct cryptocurrency mining locales with an add up to a capacity of 200MW inside two a long time. NBTC will have the need to convey cryptocurrency mining machines possessed by NBTC or its accomplices. The joint wander will moreover carry out operation and support of cryptocurrency mining machines in Kazakhstan.

Agneta Johansen

Agneta is still enjoying her trips to Asia and Africa while she works at Own Snap as an author and reporter. Very soon she will settle somewhere in Europe and run her startup enterprise.