Meten EdtechX Education Group Ltd (NASDAQ:METX) Stock Soars Again From The Recent Slump

Nowadays many companies are starting their own blockchain and cryptocurrency businesses in order to cash in on the wave. On Wednesday, it was Meten EdtechX Education Group Ltd (NASDAQ:METX) that made such an announcement and it led to a strong rally in its stock.

The company announced that it would adapt a new initiative in order to build its own cryptocurrency and blockchain business. After the announcement, the stock soared by as much as 37% as investors piled on to the stock in a big way. The company announced yesterday that it has come up with a blockchain technology strategic plan and it is centred on the introduction of a reward process with Dogecoin.

In addition to that, the blockchain strategy is also going to involve the application of NFTs or non-fungible tokens for the purposes of copyright in the online education space. Now that Meten EdtechX Education Group has chosen this path, it is now going to look into the purchase of cryptocurrency mining machines and assets related to NFTs. The company is going to put the machines and the NFT related assets into operation in either Canada or the United States.