MOGU Shares Rise After $20 Million Crypto Allocation

MT Newswires Live

Sep 11

MOGU (MOGU) shares almost doubled in recent Thursday trading after the company's board approved an allocation of up $20 million in corporate assets to cryptocurrencies, mainly bitcoin (BTC-USD), ethereum (ETH-USD), and solana (SOL-USD).

The move aims to diversify treasury holdings and bolster the company's transition toward artificial-intelligence products and services, the company said Thursday in a statement.

Chairman Chen Qi was authorized by the board to determine the timing and amount of digital currency acquisitions, the company said.

Price: 4.96, Change: +2.46, Percent Change: +98.40

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