The leading technology-driven platform in China’s chemical industry Molecular Data Inc. (Nasdaq: MKD) stock gained 10.48% during Friday’s trading session while hitting a high of $1.29 and a low of $1.10. MKD shares were traded for a total of 15.8 million against the 30-day average session volume of 7.46 million. At the end of the last trading session, MKD stock had reached $1.16. The surge in MKD stock came after several moves that day.
What were those moves?
Molecular Data Inc. provides chemical value chain participants with integrated solutions through its leading technology-driven platform in China. MKD provides e-commerce solutions, financial solutions, warehouse management software, and SaaS applications to the traditional chemical industry to address pain points. Those e-commerce solutions are mainly offered through its online platform of molbase.cn, molbase.com, Chemical Community APP, Moku Data WeChat account, and other ancillary platforms.
Announcing the agreement signed with the first publicly listed cloud-computing company in China, Molecular Data on last Friday has set up a strategic partnership with UCloud Technology Co., Ltd.
Several industries, including chemical, medical, new materials, and others, will benefit from the platform formed by the both companies that integrate high-quality resources as well as services.
The deployment of Blockchain solutions will also be included in this move to address the deficiencies faced by various industries.
In addition, a cooperation agreement was signed on Friday by Molecular Data with China’s largest professional manufacturer of high-purity specialty solvents Anhui Shilian Special Solvent Co., Ltd.
How the collaborations will impact MKD?
The business model of Molecular Data (MKD) will be further strengthened by these collaborations, as investors immediately bought the ideas which resulted in a rise in the MKD stock price that same day.