The markets are open, marking the second-to-last trading day of 2017, and it appears LiNiu Technology Group (NASDAQ:LINU) is going to make the most of it.
As of this writing, LiNiu Technology is trading at $2.78, which puts the stock up $1.45, or a whopping 108.72%. As a result, this goes without saying that a more than 100% increase puts LINU at the top of Thursday’s winner’s list.
What’s Been Going On?
Headquartered in Macau, LiNiu Technology Group is a company that focuses primarily on offering a number of agricultural services and products to the public. In April of this year, LiNiu Technology Group first rolled out its electronic trading platform that is targeted at the agriculture industry in China through Guangzhou LiNiu Network Technology Co.
The company has had a busy couple of months, starting in September when it disclosed that it had signed a strategic cooperation agreement with The Peoples Insurance Company of China Limited Guangzhou branch. According to the company’s press release, the strategic cooperation agreement will last a span of three years.
Under the terms of the agreement, both companies will work alongside each other in order to create new insurance products for a number of professions, such as farmers and anyone else involved in the agriculture sector.
While this is good news for both the agriculture sector and LiNiu Technology Group, the more than 100% surge on Thursday’s trading day is mostly due to the company posting its financial earnings for the first half of 2017 on Thursday, which ended on June 30.
The Financial Results
There were a number of highlights and business developments in the first half of the year, such as finalizing the purchase of 51% of Jia-Heng Industrial Limited back in March, and as mentioned, rolling out its trading platform in April.
Wang Shun Yang, who is the co-CEO of LiNiu Technology Group, stated Thursday that the company had focused primarily on launching the trading platform in 2017 as well promoting the network so that those in the agriculture sector would utilize the platform.
Additionally, Mr. Yang disclosed that in 2018 the company wants to further customer awareness and build more relationships with online platforms.
The Takeaway
LiNiu Technology Group shareholders are probably patting themselves on the back today – as they should be – but like with anything on the market, it is important to remember that just because a stock soars does not mean that it is in the clear and that it won’t drop just as fast as it increased.
Check back in January to see if LiNiu Technology Group can keep up the pace!
Featured Image: Depositphotos/© toxawww
