Companies involved in the blockchain space have been getting a lot of attention in recent times due to the popularity of the technology and one of the companies that was in considerable focus among investors yesterday was BTCS Inc (OTCMKTS:BTCS).
BTCS Inc is a blockchain technology company and yesterday the company’s stock managed to clock gains of as much as 47%. While the gains are certainly attractive, it is also necessary for investors to keep in mind that there was no news about the company yesterday that might have led to such handsome gains.
As it happens, the last significant news in relation to the company emerged back on June 28 when the company announced that it had appointed Andrew Lee as its Chief Financial Officer. It is a major development for the company considering the fact that Lee had previously been employed as an executive at the hedge fund Tiger Cub that managed many billions in assets.
He was responsible for leading the hedge fund’s private investment initiatives and had been working side by side with such august names as Soros Fund Management and Thiel Capital. That being said, investors need to keep their eyes open with regards to any fresh news about the company in the coming days.
Market Reaction:
On Wednesday, BTCS stock soared 47% at $0.58 with more than 1.49 million shares, compared to its average volume of 484k shares. The stock had moved within a range of $0.4000 – 0.5990 after opening the trade at $0.44. Over the past 52-week, the stock has been trading within a range of $0.1100 – 3.2400.
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