Yesterday, the Shanghai based company Molecular Data Inc (NASDAQ:MKD) was in considerable focus in the markets following a key announcement and ended the day with gains of 14%. However, in this context, it should also be noted that the rally in the stock on Thursday, took the gains over the past week to as much as 28%.
Yesterday Molecular Data announced that it got into a partnership with a United States based investment firm that is involved in the development of worldwide blockchain data centres and projects related to renewable energy. By way of this particular partnership, the two parties are going to work on certain supply chain difficulties in the chemical industry.
On the other hand, they will also work on the establishment of commercial scale blockchain data centres in the United States. The work with regards to working on the bottlenecks in the chemical industry is an interesting one, considering the fact that Molecular Data operates a technology platform that is meant for the Chinese chemical industry. By way of this platform, Molecular Data helps in connecting the participants in the value chain in the chemical industry effectively. In light of the latest gains, investors could consider keeping an eye on the Molecular Data stock.