Molecular Data Inc. (MKD) shares declined 4.11% in after-hours on Wednesday, October 6, 2021, and closed the daily trading at $0.35. However, in the regular trading session, MKD’s stock gained 10.61%. MKD shares have fallen 72.96% over the last 12 months, and they have moved up 1.39% in the past week. Over the past three months, the stock has lost 54.06%, while over the past six months, it has declined 65.24%.
Let’s have a brief look at its recent news.
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MKD closed registered direct offering
On September 22, 2021, Molecular Data Inc (MKD) closed its previously announced registered direct offering for the purchase and sale of (i) common units, consisting of one American Depositary Share, each representing three of its Class A ordinary shares, and one warrant to purchase one ADS and (ii) pre-funded units, consisting of one pre-funded warrant to purchase one ADS and one warrant to purchase one ADS. The purchase price of the common units was $0.38 per unit, $0.3799 per pre-funded unit, $0.0001 for the pre-funded warrants, and is $0.38 is the exercise price of the ADS warrants.
The company will get gross proceeds of $15 million and will use it for working capital and other general corporate purposes.
On September 13, 2021, Molecular Data Inc (MKD) announced a strategic partnership memorandum for a potential transaction, including a stake in a renowned Chinese logistics player with close to a decade of domain expertise.
The collaboration will deploy systems to accurately dispatch chemical trucks and such a strengthened logistics capability will address inadequacies in the transactions, as customers will be able to increase logistics efficiency and reduce costs.
MKD collaboration with US investment firm
On September 2, 2021, Molecular Data Inc. (MKD) partnered with a US investment firm that develops global blockchain data centres and renewable sustainable energy projects.
The collaboration will address bottlenecks in the Chemical space and establish commercial-scale Blockchain data centres in America.
On August 19, 2021, Molecular Data Inc. (MKD) won the top 30 outstanding enterprises in China’s Industrial Internet industry. This accolade was awarded at a recent 2021 China Industrial Internet Annual Conference and China Industrial Internet Outstanding Enterprise Award Ceremony held in Beijing.
Partnership with Wanxiang Blockchain
On August 11, 2021, Molecular Data Inc (MKD) announced its partnership with Wanxiang Blockchain to cooperate in the areas involving a Digital industrial park and a Digital E-commerce platform. The digitization will involve using credible ledgers, and digital identities.
The recent stock offering seems to be the reason behind its poor performance in the after-markets on Wednesday. Let’s see how it performs in the coming trading sessions?