The blockchain and cryptocurrency industries have grown at a remarkable pace over the course of the past few years and hence, more and more investors are looking into companies which are involved in those sectors.
The blockchain and cryptocurrency company that investors could look into today is that of Santo Blockchain Labs (OTCMKTS:SANP). The stock has made a big move over the past few days and on Wednesday it went up by another 35% as investors continued to move into it. That took its gains over the course of the past week to as much as 50%.
Last week the vertically integrated cryptocurrency and blockchain firm announced its financial results for the second fiscal quarter that ended on June 30, 2021. That had been trigger for the strong rally over the past days. The total assets with Santo Blockchain soared to $687,844 at the end of the quarter compared to $270,216 at the end of December 2020. On the other hand, the total liabilities shrunk to $3,008,599 from $3,222,385 at end of December 2020. While the operating expenses came in at $180,754, the company’s net income in the second quarter stood at $279,730.