{"id":67068,"date":"2023-09-30T00:54:09","date_gmt":"2023-09-30T04:54:09","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/btc-digitals-stock-doubles-on-heavy-volume-after-ticker-change-better-reflects-its-business\/"},"modified":"2023-09-30T00:54:12","modified_gmt":"2023-09-30T04:54:12","slug":"btc-digitals-stock-doubles-on-heavy-volume-after-ticker-change-better-reflects-its-business","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=67068","title":{"rendered":"BTC Digital\u2019s stock doubles on heavy volume after ticker change \u2018better reflects\u2019 its business"},"content":{"rendered":"
\n

Changing the name wasn\u2019t enough. It took a change in the ticker symbol to generate investor interest in BTC Digital Ltd.\u2019s stock, which doubled on heavy volume on Friday.<\/p>\n

The China-based blockchain technology and cryptocurrency mining company\u2019s stock starts trading Friday under the new ticker \u201cBTCT,\u201d which was changed from \u201cMETX.\u201d<\/p>\n

\n

The stock
\n BTCT,
\n +76.35%<\/bg-quote>
\n rocketed 100% in midday trading, paring an earlier premarket gain of as much as 393%. Trading volume ballooned to 6.1 million shares, compared with the full-day average over the past 30 days of about 57,400 shares.<\/p>\n

The ticker change came after the company changed its name to BTC Digital Ltd. from Meten Holding Group Ltd., with the name change reflected on the Nasdaq as of Aug. 18.<\/p>\n

\u201cThe company\u2019s management believes that \u2018BTC Digital Ltd.\u2019 better reflects the company\u2019s current business operations,\u201d the company said in a statement.<\/p>\n

But that didn\u2019t help the stock. It had tumbled 44.8% from the name-change announcement through Thursday. It had closed at a record low of $1.79 as recently as Sept. 26.<\/p>\n

The company went public in the U.S. in March 2020. As of Thursday\u2019s close, it had a market capitalization of $3.1 million.<\/p>\n

The stock has now gained 9.3% year to date but has lost 48.4% over the past 12 months, while the iShares MSCI China ETF
\n MCHI
\n has tacked on 1% the past year and the S&P 500 index
\n SPX
\n has advanced 18.3%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Changing the name wasn\u2019t enough. It took a change in the ticker symbol to generate investor interest in BTC Digital Ltd.\u2019s stock, which doubled on heavy volume on Friday. The China-based blockchain technology and cryptocurrency mining company\u2019s stock starts trading Friday under the new ticker \u201cBTCT,\u201d which was changed from \u201cMETX.\u201d The stock BTCT, +76.35% […]<\/p>\n","protected":false},"author":1,"featured_media":67069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-67068","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBTC Digital\u2019s stock doubles on heavy volume after ticker change \u2018better reflects\u2019 its business | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Changing the name wasn\u2019t enough. 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