Why The9 Limited (NCTY) Took A 12.64% Leap After-Hours?

Shares of the China based internet company The9 Limited (NCTY) leapt 12.64% in extended trading on Monday. In the absence of any significant news, the stock came to be adding 37.41% in the normal trading to close at $44.92. The surge then can be attributed to the recovery the stock has been making after losing the grounds in last 2 sessions of the past week.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

Recent developments:

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The9 Limited is an Internet company based in China that mostly focuses on development and offering of gaming service in the country. The9 also develops and/or operates its proprietary mobile games including the CrossFire New Mobile Games, Audition mobile, Fashion Pop and Q Jiang San Guo.

Read More

The company offers online games, including multiplayer online games, mobile games, Web games, and TV games. It also develops mobile games, including CrossFire New Mobile Game and Audition; and provides technical consulting services. The company was formerly known as GameNow.net Limited and changed its name to The9 Limited in February 2004.

Besides gaming, The9’s business goal now is to become a comprehensive high-tech Internet company, which led the company to venture in the blockchain-related businesses. The9 announced the establishment of its wholly-owned new subsidiary NBTC in January this year to engage in blockchain and cryptocurrency related businesses. Within two months, Bitcoin and Filecoin mining machines had been purchased as the first step to develop The9’s cryptocurrency mining business.

  • Last week, The9 Limited announced the appointment of Cai Zhifang as the CEO of NBTC, who will oversee the development of the subsidiary company’s blockchain and cryptocurrency affairs.
  • Cai has joined the team and will be responsible for growing the NBTC blockchain and digital currency businesses.

    Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

  • With his extensive industry knowledge and resources, Mr Cai will formulate and implement NBTC’s business strategy.
  • In order to accelerate the establishment of The9’s global leadership in the cryptocurrency industry, he will be introducing the NBTC partnership with worldwide crypto ecosystem partners.

Related posts