As of last check, Future FinTech Group Inc. (NASDAQ: FTFT) was up 4.93% at $4.26 in premarket trade today. Future FinTech closed the day on Monday at $4.06, a rise of 19.76%. Over the course of the trading session, the FTFT stock fluctuated between $3.52 and $4.07.
In the past five trading sessions, FTFT stock gained a total of 17.34% whilst year-to-date it has gone up 115.96%. FTFT stock has been gaining without any related news, and this indicates recent developments could give better insight.
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
What has recently happened?
Founded in Florida, Future FinTech specializes in blockchain e-commerce and financial technology. Chain Cloud Mall (“CCM”), a blockchain-based online shopping mall platform is part of FTFT’s operations. NONOGIRL is an online e-commerce platform for cross-border shopping. Aside from blockchain-based e-Commerce, FTFT also develops financial technology.
A recent announcement from Future FinTech stated that on April 13, 2021, FTFT has agreed to acquire Khyber Money Exchange from its shareholder.
The Term Sheet contains proposals for a possible transaction and has no binding effect except for its ‘Exclusive Period’ and ‘Confidentiality’ sections and its ‘Governing Law’ section. For €685,000 (US$820,170), FTFT will purchase 100% of the equity of Khyber Exchange.
A due-diligent process will be followed by the Future FinTech (FTFT) for the acquisition. FTFT also has the exclusive right to negotiate for and purchase Khyber Exchange shares within a 30-day period of time stipulated in the Term Sheet.